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Compute the 2022 standard deduction for the following taxpayers. If an amount is zero, enter 0 . Click here to access the Exhibits 3.4
Compute the 2022 standard deduction for the following taxpayers. If an amount is zero, enter " 0 ". Click here to access the Exhibits 3.4 and 3.5 to use. a. Ellie is 15 and claimed as a dependent by her parents. She has $1,825 in dividends $ income and $1,720 in wages from a part-time job. b. Ruby and Woody are married and file a joint tax return. Ruby is age 66 , and Woody q is 69. Their taxable retirement income is $11,520. c. Shonda is age 68 and single. She is claimed by her daughter as a dependent. Her earned income is $300, and her interest income is $740. d. Frazier, age 58 , is married but is filing a separate return. His wife itemizes her deductions. The standard deduction is the sum of two components: the basic standard deduction and the additional standard deduction. * lists the basic standard deduction allowed for taxpayers in each filing status. Certain taxpayers, however, are not allowed to claim any standard deduction, and the standard deduction is limited for others. A taxpayer who is age 65 or over or blind in 2022 qualifies for an additional standard deduction of $1,400 or $1,750, depending on filing status (see amounts in Exhibit 3.5). Two additional standard deductions are allowed for a taxpayer who is age 65 or over and blind. The additional standard deduction provisions also apply for a qualifying spouse who is age 65 or over or blind, but not for a dependent
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