Sebastian (age 46) and Kaitlin (age 45) are married and file a joint tax return.Their 2019 adjusted gross income is $390,000 and includes $2,600 in investment income ($2,000 in short-term capital gains and $600 of interest income) .They provided 100% of the support for their daughter, Olivia, age 26, who lives with them, and earned $4,700 from her part-time job.They also provided 100 percent of the support for Sebastian's mother, Emily, who is 67, blind, and lives in a nursing home.Emily received $4,000 in Social Security benefits and $450 of interest income.What is Sebastian and Kaitlin standard deduction on their 2019 tax return if they do not itemize?
A) $13,850
B) $12,900
C) $24,400
D) $25,700
Correct Answer:
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