Marvin Miller, who is claimed as a dependent by his parents, received income of $3,100 from...
Marvin Miller, who is claimed as a dependent by his parents, received income of $3,100 from a trust fund and $500 from wages. Marvin had $1,150 in itemized deductions. What is Marvin's taxable income?
|
$2,550 |
||
|
$3,600 |
||
|
$2,450 |
||
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$1,500 |
||
|
None of these |
Homework Answers
Taxable income = Trust fund income + wages - Itemized deductions
=3100+500-1150
=2450
The answer is c) $2,450
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