Sylvia,age 17,is claimed by her parents as a dependent.During 2013,she had interest income from a bank savings account of $2,000 and income from a part-time job of $4,200.Sylvia's taxable income is:

Question

Quizplus · Accepted Answer

In 2013, the standard deduction for a dependent was $1,000 and the exemption amount for a dependent was $3,900. Therefore, Sylvia's taxable income is calculated as follows:
Interest Income: $2,000
Part-time Job Income: $4,200
Total Income: $6,200
Standard Deduction + Exemption: $1,000 + $3,900 = $4,550
Taxable Income: $6,200 - $4,550 = $1,650. Choice C is the correct answer.

Sylvia,age 17,is Claimed by Her Parents as a Dependent