Which of the following statements, with respect to earned income received by a 15-year-old child who is eligible to be claimed as a dependent, is CORRECT? The child has a limited standard deduction (up to $1,150 in 2022) available. The child has up to a full standard deduction ($12,950 in 2022) available. Any income in excess of $1,150 is taxable at the parent's marginal rates. The income is not subject to the parent's rate because it is earned income.