Candace is claimed as a dependent on her parent's tax return (assume her parents have...
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Candace is claimed as a dependent on her parent's tax return assume her parents have a marginal tax rate In Candace received $ of interest income from corporate bonds she obtained several years ago. This is her only source of income. She is years old at yearend. What is her gross tax liability? Use Tax Rate Schedule, Standard deduction.For individuals claimed as a dependent on another return, the standard deduction is the greater of $ or $ plus earned income not to exceed the standard deduction
amount of those who are not dependents.
EXHIBIT Standard Deduction Amounts
amount of those who are not dependents.
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