Jill is a 16-year-old child who is claimed as a dependent by her parents.Jill's only income is $1,400 from her bank savings account.What is the amount of Jill's standard deduction for 2017?

Question

Quizplus · Accepted Answer

The standard deduction for a dependent in 2017 is the greater of $1,050 or their earned income plus $350, up to a maximum of $6,350. Since Jill's earned income is only $1,400, her standard deduction is $1,050 + $1,400 = $2,450. However, since this amount is less than the minimum standard deduction for a dependent, her standard deduction is $1,050. Therefore, the answer is B) $1,050.

Jill Is a 16-Year-Old Child Who Is Claimed as a Dependent