Grandfather GF, a single taxpayer, has current year taxable income of $300,000.His granddaughter GD, also single, has current year taxable income of $210,000.An income shift of $15,000 from GF to GD during the current year would not result in any tax savings to the family.

Question

Quizplus · Accepted Answer

An income shift of $15,000 from GF to GD would not result in any tax savings to the family because they are both in the same tax bracket.

Grandfather GF, a Single Taxpayer, Has Current Year Taxable Income