Keith, age 17, is a dependent of his parents. During 2011, he received $3,000 of dividend income. The parent's marginal rate is 28% and Keith's rate is 10%. Keith's tax is
A) $-0-.
B) $165.
C) $205.
D) $300.
Answer: B
Keith, age 17, is a dependent of his parents. During 2011, he received $3,000 of dividend income. The parent's marginal rate is 28% and Keith's rate is 10%. Keith's tax is
A) $-0-.
B) $165.
C) $205.
D) $300.
Answer: B