Ayla, age 17, is claimed by her parents as a dependent.During 2019, she had interest income from a bank savings account of $2,000 and income from a part-time job of $4,200.Ayla's taxable income is:
A)$4,200 - $4,550 = $0.
B)$6,200 - $5,700 = $500.
C)$6,200 - $4,550 = $1,650.
D)$6,200 - $1,000 = $5,200.
E)None of these.

Question

Quizplus · Accepted Answer

To determine Ayla's taxable income, we must first calculate her total income. Her interest income from the bank savings account is $2,000 and her income from the part-time job is $4,200, for a total of $6,200.

Next, we need to determine her deductions. As she is claimed as a dependent by her parents, she is not eligible for the personal exemption. However, she is allowed a standard deduction of $1,100.

Therefore, Ayla's taxable income is $6,200 - $1,100 = $5,100.

The correct answer is C.

Ayla, Age 17, Is Claimed by Her Parents as a Dependent.During