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Compute Carlos regular taxable income and regular tax

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Question - Carlos, age 21, is a dependent of his parents and earns $6,000 of income from a part-time summer job in construction and receives $17,300 of interest income from an investment account set up for him by his parents during 2020. Compute Carlos's regular taxable income and regular tax liability on his 2020 tax return given that his parents' taxable income on their joint return is $140,000 during 2020.

Reference no: EM132920913

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