Determine the amount of the standard deduction allowed for 2014 in the following independent situations. In each
Question:
a. Curtis, age 18, has income as follows: $700 interest from a certificate of deposit and $6,000 from repairing cars.
b. Mattie, age 18, has income as follows: $600 cash dividends from a stock investment and $4,700 from handling a paper route.
c. Mel, age 16, has income as follows: $800 interest on a bank savings account and $700 for painting a neighbor's fence.
d. Lucy, age 15, has income as follows: $400 cash dividends from a stock investment and $500 from grooming pets.
e. Sarah, age 67 and a widow, has income as follows: $500 from a bank savings account and $3,200 from babysitting.
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Related Book For
South Western Federal Taxation 2015 Essentials Of Taxation Individuals And Business Entities
ISBN: 9781285438290
18th Edition
Authors: James Smith, William Raabe, David Maloney, James Young
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