Hester (age 17) is claimed as a dependent by his parents, Charlton and Abigail. In 2018, Hester received $10,000 of qualified dividends and he received $11,800 from a part time job. What is his taxable income for 2018?

Question

Quizplus · Accepted Answer

Gross income of $21,800 less the greater of (1) $1,050 or (2) $12,000 ($11,800 earned income + $350-not to exceed the basic standard deduction amount of $12,000) is $9,800.

Hester (Age 17) Is Claimed as a Dependent by His