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Author Question: Gina Lewis, age 12, is claimed as a dependent on her parent's return. She is their only child. She ... (Read 58 times)

charchew

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Gina Lewis, age 12, is claimed as a dependent on her parent's return. She is their only child.  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 2016.
b. Can Gina's parents take a child tax credit for her?


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Marked as best answer by charchew on Sep 13, 2020

JYan

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charchew

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Reply 2 on: Sep 13, 2020
Thanks for the timely response, appreciate it


vickybb89

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Reply 3 on: Yesterday
Excellent

 

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