Josiah, age 17, is claimed as a dependent on his parents tax return. In 2023, Josiah received

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Josiah, age 17, is claimed as a dependent on his parentʼs tax return. In 2023, Josiah received interest income of $$1,400$ and wages of $$5,000.$ What is Josiahʼs eligible standard deduction?

a. $0

b. $1,150

c. $5,400

d. $6,400

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Fundamentals Of Taxation For Individuals A Practical Approach 2024

ISBN: 9781119744191

1st Edition

Authors: Gregory A Carnes, Suzanne Youngberg

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Question Posted: Apr 08, 2024 03:00 AM

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Josiah, age 17, is claimed as a dependent on his parents tax return. In 2023, Josiah received

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The correct answer is 5400 A limited standard deduct...View the full answer

Fundamentals Of Taxation For Individuals A Practical Approach 2024

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