Exercise $3-19($LO$.2)$

Compute the $2024$ standard deduction for the following taxpayers:

If an amount is zero, enter $"0".$

Click here to access the Exhibits $3\mathrm{.}4$ and $3\mathrm{.}5$ to use.

a$.$ Ellie is $15$ and claimed as a dependent by her parents. She has $$800$ in dividend income and $$1,400$ in wages from a part$-$time job. Exercise $3-19($LO$.2)$

Compute the $2024$ standard deduction for the following taxpayers:

If an amount is zero, enter $"0".$

Click here to access the Exhibits $3\mathrm{.}4$ and $3\mathrm{.}5$ to use.

a$.$ Ellie is $15$ and claimed as a dependent by her parents. She has $$800$ in dividend

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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A major component of the tax formula is the standard deduction. The effect of the standard deduction is to exempt part of a taxpayer's income

from Federal income tax liability.

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.$ $fill in the blank $2$

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.$ $fill in the blank $3$

d$.$ Frazier, age $55,$ is married but is filing a separate return. His wife itemizes her deductions. $fill in the blank $4$

$0$