C25 1. VAX Karen (age 74) is married and will file as married separate for 2020. Assume that Karen has one child who she will claim as a dependent. Assume also that Karen's spouse has already filed Form 1040 for 2020 (married separate) claiming itemized deductions of $19,500 on that return. Karen has AGI of $52,000 for the year, but has only $4,000 of qualifying itemized deductions. Karen wishes to use the standard deduction for 2020. What is Karen's Form 1040 taxable income for year 2020. A $ 39,600 B 48,000 38,300 D 46,700 E None of the above 2. Mary Mays, who is a fourteen year old child actress, earns wages of $36,000 during 2020 while acting in television commercials. Mary lives with and is fully supported by her parents, who are eligible to claim her as a dependent on their joint Form 1040. Assume that Mary's only other 2020 income is $100 of taxable interest income and that she has available itemized deductions of $7,600. What is Mary's Form 1040 taxable income for the year? A $ 34,900 B 19,350 28,500 D 34,650 E None of the above