Lewis,who is single,is claimed as a dependent on his parents' tax return.He received $2,000 during the year in dividends,which was his only income.What is his standard deduction for 2016?

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Quizplus · Accepted Answer

Lewis is claimed as a dependent on his parents' tax return, so his standard deduction is limited to the greater of $1,050 or the amount of his earned income plus $350. Since Lewis has no earned income, his standard deduction is $1,050.

Lewis,who Is Single,is Claimed as a Dependent on His Parents