Tony,age 15,is claimed as a dependent by his grandmother.During 2010,Tony had interest income from Boeing Corporation bonds of $1,000 and earnings from a part-time job of $700.Tony's taxable income is:
A)$0.
B)$1,700 - $700 - $950 = $50.
C)$1,700 - $1,000 = $700.
D)$1,700 - $950 = $750.
E)None of the above.

Question

Quizplus · Accepted Answer

Tony's taxable income is $1,700 - $1,000 = $700.

Tony,age 15,is Claimed as a Dependent by His Grandmother