During 2019, jasmine (age 12) received $6,500 from a corporate bond. she also received $600 from a savings account established for her by her parents. jasmine lives with her parents and she is their dependent. what is jasmine’s gross tax liability? (use the estates and trusts and tax rate schedules.) multiple choice $0 $812 $110 $922

$922

Explanation:

Jasmine's taxable income = $6500 + $600 - $1100

                                            = $6000

Jasmine's net unearned income is lower of taxable income

= $7100 - $2200

= $4900

tax on unearned income = 260 + 24%(4900 - 2600)

                                          = $812

remaining income is taxed at parent's rate

= 10%(6000 - 4900)

= $110

total tax liability = 812 + 110

                          = $922

Therefore, Jasmine’s gross tax liability is $922.

answer; /// the correct answer is (10) days; /// good luck

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