Problem 3-30 (LO. 2) Determine the amount of the standard deduction allowed for 2020 in...
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Problem 3-30 (LO. 2) Determine the amount of the standard deduction allowed for 2020 in the following independent situations. In each case, assume that the taxpayer is claimed as another person's dependent. Amount of the Standard Deduction $ 12,000 X 5,050 a. Curtis, age 18, has income as follows: $700 interest from a certificate of deposit and $12,600 from repairing cars. b. Mattie, age 18, has income as follows: $600 cash dividends from a stock investment and $4,700 from handling a paper route. c. Jason, age 16, has income as follows: $675 interest on a bank savings account and $800 for painting a neighbor's fence. d. Ayla, age 15, has income as follows: $400 cash dividends from a stock investment and $500 from grooming pets. e. Sarah, age 67 and a widow, has income as follows: $500 from a bank savings account and $3,200 from babysitting. 1,150 1,100 5,150 X
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