who can explain kidde tax calculation? Thanks.

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  • August 30, 2011 at 6:40 pm #161510
    lyu
    Participant

    1st 950 is deductible, then 2rd 950 or what? what is taxed at what rate to kid?

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  • August 30, 2011 at 7:15 pm #293885
    Minimorty
    Participant

    1st 950 deductible, 2nd 950 (to the extent there is income) taxed at childs rate, anything over taxed at parents rate.

    August 30, 2011 at 7:18 pm #293886
    lyu
    Participant

    how much is child's rate, 10%? or it will be given in the test?

    August 30, 2011 at 7:21 pm #293887
    Minimorty
    Participant

    if, in the unlikely event, you get one McQ on that, they should give the rate. Likely, they will just ask how much is taxed at parents rate.

    August 30, 2011 at 7:28 pm #293888
    killaking
    Participant

    nevermind answered already

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