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Education
@MayaD the kiddie tax switched back to parents tax rate from 2020 onwards.
@Hal_Al and @MayaD - My question was whether the "kiddie-tax" deduction of $2200 also applies in addition to the $12,550 standard deduction or not? If so, the parents tax rate should not be charged on ALL income above $12,550 which is what TurboTax is doing. Should it be staggered? First $1100 at 0, next $1100 at 10 and anything above that at parent rate?, i,e, AFTER standard deduction ($12,550)? Thanks
‎April 14, 2022
1:40 PM