Exercise 9-6 (Algorithmic) (LO. 6) In 2019, Simon, age 12, has interest income of $6,780...
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Accounting
Exercise 9-6 (Algorithmic) (LO. 6)
In 2019, Simon, age 12, has interest income of $6,780 and no earned income. He has no investment expenses.
Click here to access the 2019 tax rate schedule and 2019 Estate and Trust Tax Rate Schedule. If required, round the tax liability to the nearest dollar.
Income Tax RatesEstates and Trusts
Taxable Income
Over
$0 2,600 9,300 12,750
Taxable Income Over
$0 2,550 9,150 12,500
Tax Year 2019
The Tax Is:
But not Over Over
$2,600 10%
$0 2,600 9,300 12,750
|
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