What is lenny taxable income, Taxation

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What is lenny taxable income

Problem: Lenny, age 12, has $5,500 interest income from a trust established by his uncle. This is Lenny's only source of income for 2018.

Required:

a. What is Lenny's taxable income and how much income tax does he owe?

b. How would your answers change if Lenny were age 24?

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