Question
Olivia is single, 66 years old, and not blind. She paid all the cost of keeping up her home. She earned $55,000 in wages for
- Olivia is single, 66 years old, and not blind.
- She paid all the cost of keeping up her home. She earned $55,000 in wages for 2019.
- Olivia provided all the support for her two grandchildren who lived with her all year. Cora is 11 years old and Jack is 15 years old.
- She does not have enough deductions to itemize.
- Olivia, Cora, and Jack are all U.S. citizens with valid Social Security numbers.
1. What is the amount of Olivia's standard deduction?A. $18,350B. $20,000C. $24,400D. $25,700
- Olivia is single, 66 years old, and not blind.
- She paid all the cost of keeping up her home. She earned $55,000 in wages for 2019.
- Olivia provided all the support for her two grandchildren who lived with her all year. Cora is 11 years old and Jack is 15 years old.
- She does not have enough deductions to itemize.
- Olivia, Cora, and Jack are all U.S. citizens with valid Social Security numbers.
2. The maximum amount of child tax credit that Olivia is able to claim per qualifying child for 2019 is:A. $500B. $1,000C. $1,400D. $2,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Data Analytics for Accounting
Authors: Vernon Richardson
1st edition
1260375196, 9781260375183 , 978-1260375190
