Page 47 - Be Tax Ready 2024
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KIDDIE TAX & PERSONAL




                                        EXEM PTION



          KIDDIE TAX



          For child subject to kiddie tax, ne unearned income of

          child taxed at parents marginal tax rate.  Net unearned


          income for 2023 is the child's unearned income less the

          sum of (1) $1,250 plus (2) the greater of $1,250 or the

          child's itemized deductions directly connected to the


          production of the unearned income if the child itemizes.






          PERSONAL EXEMPTION


          Personal exemptions are suspended from 2018 through


          2025.


          A deemed personal exemption amount of $4,700 is

          used for pursposes of determining who is a "qualifying

          relative" under Sec. 152(d)(1)(B).







          TRAINBYUS: TRANSFORMING DIGITAL LEARNING
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