. Taxpayer, age 16, is claimed as a dependent by his mother. In 2019, he has dividend income of $1,300 and earns $500 from a part-time job.
. Taxpayer, age 16, is claimed as a dependent by his mother. In 2019, he has dividend income of $1,300 and earns $500 from a part-time job.
Chapter3: Tax Formula And Tax Determination; An Overview Of property Transactions
Section: Chapter Questions
Problem 47P
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Taxpayer, age 16, is claimed as a dependent by his mother. In 2019, he has dividend income of $1,300 and
earns $500 from a part-time job.
What is his taxable income for 2019?
a.
r00
b. Suppose he earned $1,100 (not $500) from the part-time job. What is his taxable income for 2019?
950
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