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| Teaching Since: | May 2017 |
| Last Sign in: | 401 Weeks Ago, 6 Days Ago |
| Questions Answered: | 66690 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Issue ID
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Issue ID
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11. LO.2 Sam and Abby are dependents of their parents, and each earns gross income of $2,100 for the year. Sam’s standard deduction for the year is $1,050, while Abby’s is $2,450. As their income is the same, what causes the difference in the
amount of the standard deduction?
12.  LO.2 Compute the 2015 standard deduction for the following taxpayers.
a.    Margie is 15 and claimed as a dependent by her parents. She reports $800 in dividends income and $1,400 in wages from a part-time job.
b.    Ruby and Woody are married and file a joint tax return. Ruby is age 66 and Woody is 69. Their taxable retirement income is $10,000.
c.    Shonda is age 68 and single. She is claimed by her daughter as a dependent. Her earned income is $500, and her interest income is $125.
d.    Frazier, age 55, is married but is filing a separate return. His wife Emma itemizes her deductions.
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