Explore BrainMass

Explore BrainMass

    Taxation: Standard Deduction and dependents

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    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

    © BrainMass Inc. brainmass.com June 3, 2020, 9:59 pm ad1c9bdddf
    https://brainmass.com/business/accounting/taxation-standard-deduction-and-dependents-208889

    Solution Preview

    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 ...

    Solution Summary

    The cited solution explains the correct answers to the three tax multiple choice problems.

    $2.19

    ADVERTISEMENT