2020

Exercise 3-21 (Algorithmic) (LO. 2) Compute the standard deduction for the following taxpayers. If an amount is zero, enter "O". Click here to access the standard deduction table to use. a. Ellie is 15 and claimed as a dependent by her parents. She has $1,975 in dividends income and $1,880 in wages from a part-time job. Ruby and Woody are married and file a joint tax return. Ruby is age 66, and Woody $ is 69. Their taxable retirement income is $11,325 Shonda is age 68 and single. She is claimed by her daughter as a dependent. Her earned income is $420, and her interest income is $380. Frazier, age 48, is married but is filing a separate return. His wife itemizes her deductions. d