Candace is claimed as a dependent on her parent's tax return.Her parents' ordinary income marginal tax rate is 33%.In 2017,Candace received $5,000 of interest income from corporate bonds she obtained several years ago.This is her only source of income.She is 15 years old at year-end.What is her gross tax liability?

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The Answer of Candace is claimed as a dependent on her parent's tax return.Her parents' ordinary income marginal tax rate is 33%.In 2017,Candace received $5,000 of interest income from corporate bonds she obtained several years ago.This is her only source of income.She is 15 years old at year-end.What is her gross tax liability?

Candace Is Claimed as a Dependent on Her Parent's Tax