Frank,age 17,received $4,000 of dividends and $1,500 from a part-time job.Frank is a dependent of his parents who are in the 28% percent bracket.Frank's 2017 taxable income is
A)$0.
B)$4,000.
C)$4,450.
D)$3,650.

Question

Quizplus · Accepted Answer

D)($4,000 + $1,500)- $1,850 std.ded.= $3,650.The standard deduction is the greater of $1,050 or earned income of $1,500 plus $350 ($1,850).

Frank,age 17,received $4,000 of Dividends and $1,500 from a Part-Time