Question: Exercise 3-21 (LO. 2) Compute the 2021 standard deduction for the following taxpayers. If an amount is zero, enter 0. Click here to access the


Exercise 3-21 (LO. 2) Compute the 2021 standard deduction for the following taxpayers. If an amount is zero, enter "0". Click here to access the standard deduction table to use. a. $ Ellie 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 Woodys is 69. Their taxable retirement income is $10,000. 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. C. $ TA SA -4 Basic Standard Deduction Amounts Standard Deduction Amount Filing Status 2020 2021 Single $12,400 $12,550 Married, filing jointly 24,800 25,100 Surviving spouse 24,800 25,100 Head of household 18,650 18,800 Married, filing separately 12,400 12,550 Additional Standard Deduction Amounts Filing Status 2020 2021 Single $1,650 $1,700 Married, filing jointly 1,300 1,350 Surviving spouse 1,300 1,350 Head of household 1,650 1,700 Married, filing separately 1,300 1,350
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