Compute the 2015 standard deduction for the following taxpayers. a. Margie is 15 and claimed as a

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Compute the 2015 standard deduction for the following taxpayers.

a. Margie is 15 and claimed as a dependent by her parents. She has $800 in dividends income and $1,400 in wages from a part-time job.

b. Ruby and Woody are married and file a joint tax return. Ruby is age 66 and Woody is 69. Their taxable retirement income is $10,000.

c. Shonda is age 68 and single. She is claimed by her daughter as a dependent. Her earned income is $500 and her interest income is $125.

d. Frazier, age 55, is married but is filing a separate return. His wife itemizes her deductions.

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South Western Federal Taxation 2016 Individual Income Taxes

ISBN: 9781305393301

39th Edition

Authors: James H. Boyd, William H. Jr. Hoffman, David M. Maloney, William A. Raabe, James C. Young

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