Federal Tax Research 10th Edition by Steven Gill, Gerald Whittenburg, Roby Sawyers, Debra Sanders, William Raabe

Exercise 37

Amelia and Dave are married and have one child. Detail the tax effects to the couple of making the I.R.C. § 1(g)(7)(A)(iv) election to include their seven-year-old daughter's $10,000 unearned income on their currentyear joint return.