Michelle,age 20,is a full-time college student with earned income from wages of $5,200 and interest income of $700.Michelle's parents provide more than half of Michelle's support.Michelle's taxable income is

Question

Quizplus · Accepted Answer

Michelle's taxable income is calculated as follows:

Total earned income + Total unearned income - Standard deduction ($12,200 for 2019) - Personal exemption ($0 in 2019) = Taxable income

$5,200 + $700 - $12,200 - $0 = $-6,300

Since Michelle's taxable income is negative, she does not owe any taxes. Therefore, her taxable income is $0, which is option C.

Michelle,age 20,is a Full-Time College Student with Earned Income from Wages