Essay
Gina Lewis,age 12,is claimed as a dependent on her parent's return.She is their only child. During 2014,she earned $2,300 from a summer job.She also earned interest of $2,750.Her parents' marginal tax rate is 28 percent.
Required:
a.Compute the amount of Gina's tax liability for 2014.
b.Can Gina's parents take a child tax credit for her?
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Correct Answer:
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Tax liability:Gina's net unearned incom...View Answer
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