Tony, age 15, is claimed as a dependent by his grandmother.During 2019, he had interest income from Boeing Corporation bonds of $1,000 and earnings from a part-time job of $800.Tony's taxable income is:
A)$1,800.
B)$1,800 - $800 - $1,100 = ($100).
C)$1,800 - $1,150 = $650.
D)$1,800 - $1,100 = $700.
E)None of these.

Question

Quizplus · Accepted Answer

As a dependent, Tony's standard deduction is limited to $1,100. Therefore, his taxable income is $1,800 - $1,100 = $700.

Tony, Age 15, Is Claimed as a Dependent by His