Homework Answers
Standard Deduction for Bob (67) for the year 2019:
The correct option is
- $13850
Explanation:
- Standard Deduction is that portion of AGI that can be exempt from tax which varies with the filing status of a person.
- A taxpayer can avail standard deduction only if does not have any itemized deductions.
- For the year 2019, the standard deduction for a person, whose filing status is single, is $12200. And if the person is senior citizen, means who is aged above 65, can claim additional $1650 as standard deduction.
- Therefore, the total standard deduction for Bob for the year 2019 is $13850 ($12200+$1650).
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