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Dena Liu is 20 years old and is considered a dependent of Dena's parents for tax purposes. Assume the taxable year is 2022. Required: a.
Dena Liu is 20 years old and is considered a dependent of Dena's parents for tax purposes. Assume the taxable year is 2022. Required: a. Compute Dena's taxable income if Dena's only income item was $2,712 interest earned on a certificate of deposit. b. Compute Dena's taxable income if Dena had two income items: $2,712 interest earned on a certificate of deposit and $3,276 wages from a part-time job. c. Compute Dena's taxable income if Dena was not considered a dependent for tax purposes in part a and part b. Complete this question by entering your answers in the tabs below. Compute Dena's taxable income if Dena's only income item was $2,712 interest earned on a certificate of deposit. Note: Leave no cells blank - be certain to enter "0" wherever required
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