When children are under 14,
A) The first $800 of income on investments owned is taxed at the child's low tax rate and the next $800 is not taxable.
B) The first $700 of income on investments owned is taxed at the child's low tax rate and the next $700 is not taxable.
C) The first $800 of income on investments owned is not taxable and the next $800 is taxed at the child's low tax rate.
D) The first $700 of income on investments owned is not taxable and the next $700 is taxed at the child's low tax rate.
E) None of the above.
Correct Answer:
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