3. Ayla, age 17, is claimed by her parents as a dependent. During 2019, she had...

Question

Question

Answer 1

Answer #1

solution Aylas standard deduction 4200 (earned Income) +350 = 4550 Thus her taxable Income po 1650. She is not eligible for

Answer 2

Similar Homework Help Questions

1. Ayla, age 17, is claimed by her parents as a dependent. During 2019, she had...

1. Ayla, age 17, is claimed by her parents as a dependent. During 2019, she had interest income from a bank savings account of $2,000 and income from a part-time job of $4,200. Ayla's taxable income is: a.$4,200 – $4,550 = $0. b.$6,200 – $4,550 = $1,650. c.$6,200 – $1,000 = $5,200. d.$6,200 – $5,700 = $500. e.None of these choices are correct. 2. In terms of the tax formula applicable to individual taxpayers, which of the following statements, if...
. Sylvia, age 17, is claimed by her parents as a dependent for 2019. During 2019,...

. Sylvia, age 17, is claimed by her parents as a dependent for 2019. During 2019, she had wages from a part-time job of $2,000, capital gains income of $4,200, and no other income or deductions (except the standard deduction). Sylvia’s taxable income is: a. $6,200 – $2,350 = $3,850 b. $6,200 – $4,400 = $1,800. c. $6,200 – $4,550 = $1,650. d. $6,200 – $350 = $5,850. e. $6,200 – $1,050 = $5,150.
37. LO.3, 7 Taylor, age 18, is claimed as a dependent by her parents. For 2019,...

37. LO.3, 7 Taylor, age 18, is claimed as a dependent by her parents. For 2019, she has the following income: $4,000 wages from a summer job, $1,800 interest from a money market account, and $2,000 interest from City of Boston bonds. a. What is Taylor's taxable income for 2019? b. What is Taylor's tax for 2019?

Michaella, age 23, is a full-time law student and is claimed by her parents as a...

Michaella, age 23, is a full-time law student and is claimed by her parents as a dependent. During 2019, she received $1,400 interest income from a bank savings account and $12,000 from a part-time job. What is Michaella’s taxable income for 2019?
Michaella, age 23, is a full-time law student and is claimed by her parents as a...

Michaella, age 23, is a full-time law student and is claimed by her parents as a dependent. During 2019, she received $1,400 interest income from a bank savings account and $12,000 from a part-time job. What is Michaella’s taxable income for 2019?
Tina, age 18, is claimed as a dependent by her parents. For 2020, she has the...

Tina, age 18, is claimed as a dependent by her parents. For 2020, she has the following income: $4,000 wages from a summer job, $1,800 interest from a money market account, and $2,000 interest from City of Chicago bonds. What is Tina’s taxable income for 2020?

Jane, age 17, is a dependent of her parents. During 2019, Jane earned $3,900 pet sitting...

Jane, age 17, is a dependent of her parents. During 2019, Jane earned $3,900 pet sitting and $4,200 in interest on a savings account. Determine: a. Taxable income b. Net unearned income c. Earned taxable income d. Tax liability
Hester (age 17) is claimed as a dependent by his parents, Charlton and Abigail. In 2019,...

Hester (age 17) is claimed as a dependent by his parents, Charlton and Abigail. In 2019, Hester received $10,110 of qualified dividends, and he received $12,110 from a part-time job. What is his taxable income for 2019?
Hester (age 17) is claimed as a dependent by his parents, Charlton and Abigail. In 2019,...

Hester (age 17) is claimed as a dependent by his parents, Charlton and Abigail. In 2019, Hester received $10,000 of qualified dividends, and he received $12,000 from a part-time job. What is his taxable income for 2019?

Problem 3-37 (Algorithmic) (LO. 3,7) Taylor, age 15, is claimed as a dependent by her parents....

Problem 3-37 (Algorithmic) (LO. 3,7) Taylor, age 15, is claimed as a dependent by her parents. For 2020, she has the following income: $5,200 wages from a summer job, $1,820 interest from a money market account, and $2,100 interest from City of Chicago bonds. If required, round your answers to the nearest dollar. If required, round your answers to the nearest dollar. If an amount is zero, enter "o". Click here to access the 2020 tax rate schedule. a. Taylor's...