(Answered) Gina lewis age 12 is claimed as a dependent on her parents

Accounting

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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Taxation, Accounting

Category:- Taxation
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