Taxable income and file a joint tax return

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Reference no: EM131101825

16. Simon, age 12, generates $800 interest income and $4,000 dividend income for 2015. He incurs no investment expenses. His parents report $80,200 taxable income and file a joint tax return. Determine the following.

a. Simon's net unearned income.
b. Simon's allocable parental tax.
c. Simon's total Federal income tax liability.

Reference no: EM131101825

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