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Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
Edition 4ISBN: 978-0078110993Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
Edition 4ISBN: 978-0078110993 Exercise 12
Peter is a 21-year-old full-time college student. During 2010, he earned $2,100 from a part-time job and $1,100 in interest income. If Peter is a dependent of his parents, what is his standard deduction amount? If Peter supports himself and is not a dependent of someone else, what is his standard deduction amount?
Explanation
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Income tax:
Income tax is the part of t...
Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
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