Question 1: Part 1

What is the amount of standard deduction for Abigale Abrams in 2020, a divorced parent, who fully supports her five-year-old daughter?

Select one:

a.

$12,400

b.

$18,650

c.

$24,800

d.

$0

e.

None of these

Part 2:

Determine the amount of taxable income of Michael Manx in 2020, who is single and has $300 of wages and $2,000 of interest income for the year. He is claimed as a dependent by his parents.

Select one:

a.

$2,000

b.

$2,300

c.

$1,200

d.

$300

e.

$0

Part 3:

Marvin Miller, who is claimed as a dependent by his parents, received income of $3,100 from a trust fund and $500 from wages. Marvin had $1,200 in itemized deductions directly connected with the production of unearned income. What is Marvin's taxable income?

Select one:

a.

$2,500

b.

$3,600

c.

$2,400

d.

$1,400

e.

None of these

Part 4:

Mr. and Mrs. Smith were both 67 years old and had no dependents. Mr. Smith died during the year. What is the maximum number of individuals that Mrs. Smith may qualify for dependency benefits for the year?

Select one:

a.

1

b.

2

c.

3

d.

4

e.

None of these