In 2019, Sheryl is claimed as a dependent on her parents' tax return. Sheryl did not provide more than half her own support. Wha

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2 years ago

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In 2019, Sheryl is claimed as a dependent on her parents' tax return. Sheryl did not provide more than half her own support. Wha

t is Sheryl's tax liability for the year in each of the following alternative circumstances? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates, Estates and Trusts for reference

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1 answer:

yan [13] · Answer 1 · 2022-08-09T08:05:50+03:00

Answer:

Total tax ( Sheryl ) = $802

Explanation:

Tax status of Sheryl = Single

The rates to be used are

Tax rate = 10% for single taxpayers with income between $0 through $9700
Tax for income from estates that is between $2600 through $9300 will be $260 + 24% of excess over $2600

kiddie tax is applicable on earned income above $2200 ( defined by IRS )

attached below is a detailed table