Hester (age 17) is claimed as a dependent by his parents, Charlton and Abigail. In 2016, Hester received $10,000 of qualified dividends and he received $6,000 from a part time job. What is his taxable income for 2016?

Question

Quizplus · Accepted Answer

Gross income of $16,000 less the greater of (1) $1,050 or (2) $6,300 ($6,000 earned income + $350-not to exceed the basic standard deduction amount of $6,300) is $9,700.

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