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Karen is 17 years old and a dependent of her parents. She receives $8,300 of wages from a part-time job and $9,000 of taxable interest
Karen is 17 years old and a dependent of her parents. She receives $8,300 of wages from a part-time job and $9,000 of taxable interest from bonds she inherited. (The tax year is 2019.)
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Taxable Income =
Tax =
STANDARD DEDUCTION Filing Status $ 24,400 $ 18,350 $ 12,200 $ 12,200 Married individuals filing joint returns and surviving spouses Heads of households Unmarried individuals (other than surviving spouses and heads of households) Married individuals filing separate returns Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses Additional standard deduction for the aged and the blind; Individual who is unmarried and not a surviving spouse Taxpayer claimed as dependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) $1,100. These amounts are $2,600 and $3,300, respectively, for a taxpayer who is both aged and blind. $1,300* $1,650* ReferenceStep by Step Solution
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