In Which of the Following Circumstances Will Income of the Child

question 79

Multiple Choice

In which of the following circumstances will income of the child be taxed at the marginal tax rate of the child's parent?
I.Nicole,age 17,has $4,000 of interest income from Microsoft bonds.
II.Catherine,age 19,has $2,300 of royalty income from oil producing property.
​

• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

---

Definitions:

Family Commitment

The dedication or obligation one feels towards their family members, often manifesting as support, loyalty, and care.

Natural Mothering

A parenting approach focusing on biological and instinctive practices like breastfeeding and natural childbirth.

Child Care Manuals

Guides or books that offer advice and strategies on how to care for children, including health, behavior management, and developmental milestones.

American Children

Children who are citizens or residents of the United States, encompassing a wide range of cultural, ethnic, and socioeconomic backgrounds.