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Taxation: Standard Deduction and dependents

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

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.

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