Homework Answers
A dependent under age of 65 years, if having unearned income of more than $1100, have to pay tax on that unearned income after standard deduction of $1100
Therefore, Mother's 2019 taxable income is
Interest income = $2520
- standard deduction = $1100
Net taxable income = $1420
Therefore, the correct answer is option 5th, $1420
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Please explain. Thanks
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