Sylvia, age 17, is claimed by her parents as a dependent. During 2017, she had interest income from a bank savings account of $2,000 and income from a part-time job of $4,200. Sylvia's taxable income is:

Question

Quizplus · Accepted Answer

Sylvia's taxable income is calculated as follows:

Total income = $2,000 + $4,200 = $6,200
Standard deduction for a dependent = $1,050
Personal exemption for a dependent = $4,050

Taxable income = Total income - (Standard deduction + Personal exemption) 
= $6,200 - ($1,050 + $4,050) 
= $6,200 - $5,100 
= $1,100

Therefore, choice (C) is the correct answer.

Sylvia, Age 17, Is Claimed by Her Parents as a Dependent