Taxation: Standard Deduction and dependents
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7. The regular standard deduction amount is available to which one of the following taxpayers?
a. Married taxpayer filing a separate return where the other spouse itemizes.
b. A person who has only unearned income and is a dependent of another.
c. An individual filing a return for a period of less than 12 months because of a change in accounting period.
d. An abandoned spouse.
8. Lewis, who is single, is claimed as a dependent on his parents' tax return. He received $1,000 during the year in dividends, which was his only income. What is his standard deduction?
a. $850
b. $1,000
c. $1,300
d. $5,150
9. Charlie is claimed as a dependent on his parents' tax return. He received $750 during the year in dividends, which was his only income. What is his standard deduction?
a. $750
b. $850
c. $1,050
d. $5,150
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Solution Summary
The cited solution explains the correct answers to the three tax multiple choice problems.
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7. By default d is the answer, and actually an abandoned spouse is treated more like a single taxpayer as opposed to a married filing separate taxpayer. It is a little social justice for the abandoned person.
8. The concept of the ...
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