Question

Compute the 2020 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 $500 in dividends income and $3,440 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 $11,325. Shonda is age 68 and single. She is claimed by her daughter as a dependent. Her earned income is $180, and her interest income is $335. d. Frazier, age 36, is married but is filing a separate return. His wife itemizes her deductions. Il C.

Answer 1

for the -year 2020 A Dependent will is higher of 아 So in this situation get a standard deduction $1100 or Carred income + $350 Stended deduction is higher of (81100) or 3ano +$350) standard deduction is $ 3790 b. Married and Elders will get additonal amount of $1300 Each with normal standard deduction of $ 24800 for year 2020 so in this situation, Standard deduction = (# 24800) + ($1300x2) = $27400

Single $ 1650 with a Elders will get additional amount of normal standard deduction of but depen deney deduction will be adjusted as by following way $ 12400 for year 2030, Higher of ($1100) or 180 + $ 350) + $1650 $ 1100 + $1650 = $ 2750 d. Frazier is not eligible for standard deduction and there are must itemize, because he is married a separate return when his spouse itemizes biling dedue tou. 101 so AMOUNT is