(Solved): In 2022, Sheryl is claimed as a dependent on her parents' tax return. Her parents report taxable in ...

In 2022, Sheryl is claimed as a dependent on her parents' tax return. Her parents report taxable income of \( \$ 550,000 \) (married filing jointly). Sheryl did not provide more than half her own support. What 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 for reference. Note: Leave no answer blank. Enter zero if applicable. Required: a. She recelved \( \$ 7,000 \) from a part-time job. This was her only source of income. She is 16 year 3 old at year-end. b. She recelved \( \$ 7,000 \) of interest income from corporate bonds she received several years ago. This is her only source of income. She is 16 years old at year-end. c. She received \( \$ 7,000 \) of interest income from corporate bonds she received several years ago. This is her only source of income She is 20 years old at year-end and is a full-time student. d. She received \( \$ 7,000 \) of qualified dividend income. This is her only source of income. She is 16 years old at year-end. Complete this question by entering your answers in the tabs below. She recelved \( \$ 7,000 \) from a part-time job. This was her only source of income. She is 16 years old at year-end. In 2022, Sheryl is claimed as a dependent on her parents' tax return. Her parents report taxable income of \( \$ 550,000 \) (married filing jointly). Sheryl did not provide more than half her own support. What is Sheryl's tax llability for the year in each of the following alternative circumstances? Use Tax Rate Schedule. Dividends and Capital Gains Tax Rates for reference. Note: Leave no answer blank. Enter zero if applicable. Required: a. She recelved \( \$ 7,000 \) from a part-time job. This was her only source of income. She is 16 years old at year-end. b. She received \( \$ 7,000 \) of interest income from corporate bonds she received several years ago. This is her only source of income. She is 16 years old at year-end. c. She received \( \$ 7,000 \) of interest income from corporate bonds she received several years ago. This is her only source of income. She is 20 years old at year-end and is a full-time student. d. She recelved \( \$ 7,000 \) of qualified dividend income. This is her only source of income. She is 16 years old at year-end. Complete this question by entering your answers in the tabs below. She recelved \( \$ 7,000 \) of interest income from corporate bonds she received several years ago. This is her only source of income. She is 16 years old at year-end. In 2022, Sheryl is claimed as a dependent on her parents' tax return. Her parents report taxable income of \( \$ 550,000 \) (married filing jointly). Sheryl did not provide more than half her own support. What 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 for reference, Note: Leave no answer blank. Enter zero if applicable. Required: a. She received \( \$ 7,000 \) from a part-time job. This was her only source of income. She is 16 years old at year-end. b. She recelved \( \$ 7,000 \) of interest income from corporate bonds she received several years ago. This is her only source of income. She is 16 years old at year-end. c. She received \( \$ 7,000 \) of interest income from corporate bonds she received several years ago. This is her only source of income. She is 20 years old at year-end and is a full-time student. d. She received \( \$ 7,000 \) of qualified dividend income. This is her only source of income. She is 16 years old at year-end. Complete this question by entering your answers in the tabs below. She received \( \$ 7,000 \) of interest income from corporate bonds she received several years ago. This is her only source of income. She is 20 years old at year-end and is a full-time student. In 2022, Sheryl is claimed as a dependent on her parents' tax return. Her parents report taxable income of \( \$ 550,000 \) (married filing jointly). Sheryl did not provide more than half her own support. What 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 for reference. Note: Leave no answer blank. Enter zero if applicable. Required: a. She recelved \( \$ 7,000 \) from a part-time job. This was her only source of income. She is 16 years old at year-end. b. She received \( \$ 7,000 \) of interest income from corporate bonds she received several years ago. This is her only source of income. She is 16 years old at year-end. c. She received \( \$ 7,000 \) of interest income from corporate bonds she received several years ago. This is her only source of income. She is 20 years old at year-end and is a full-time student. d. She received \( \$ 7,000 \) of qualified dividend income. This is her only source of income. She is 16 years old at year-end. Complete this question by entering your answers in the tabs below. She received \( \$ 7,000 \) of qualified dividend income. This is her only source of income. She is 16 years old at year-end. 2022 Tax Rate Schedules Schedule Y-2-Married Filing Separately \begin{tabular}{|c|c|c|c|} \hline If taxable income is over: & But not over: & The tax is: \\ \hline\( \$ 0 \) & \( \$ 10,275 \) & \( 10 \% \) of taxable income \\ \hline\( \$ 10,275 \) & \( \$ 41,775 \) & \( \$ 1,027.50 \) plus \( 12 \% \) of the excess over \( \$ 10,275 \) \\ \hline\( \$ 41,775 \) & \( \$ 89,075 \) & \( \$ 4,807.50 \) plus \( 22 \% \) of the excess over \( \$ 41,775 \) \\ \hline\( \$ 89,075 \) & \( \$ 170,050 \) & \( \$ 15,213.50 \) plus \( 24 \% \) of the excess over \( \$ 89,075 \) \\ \hline\( \$ 170,050 \) & \( \$ 215,950 \) & \( \$ 34,647.50 \) plus \( 32 \% \) of the excess over \( \$ 170,050 \) \\ \hline\( \$ 215,950 \) & \( \$ 323,925 \) & \( \$ 49,335.50 \) plus \( 35 \% \) of the excess over \( \$ 215,950 \) \\ \hline\( \$ 323,925 \) & \( - \) & \( \$ 87,126.75 \) plus \( 37 \% \) of the excess over \( \$ 323,925 \) \\ \hline \end{tabular} Tac Rates foe Net Coapiral Galns und Qualified Dividends for Nils purpatel.