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A dependent can claim as a deduction the higher of the two amounts: $850, or the amount of earned income plus $300, up to $5,450.
A dependent can claim as a deduction the higher of the two amounts: $850, or the amount of earned income plus $300, up to $5,450. Tim is a dependent who earned $410 part-time sweeping floors at Bart's Grocery and earned $87 in interest. His employer withheld $26
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Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
17th Edition
032459237X, 978-0324592375
