Compute the 2022 standard deduction for the following taxpayers. If an amount is zero, enter "0". Click here to access the Exhibits 3.4 and 3.5 to use. a. Ellie is 15 and claimed as a dependent by her parents. She has $1,000 in dividends income and $1,800 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 $14,900. C. Shonda is age 68 and single. She is claimed by her daughter as a dependent. Her earned income is $330, and her interest income is $785. 2,200 14,900 X 2,630 X
Compute the 2022 standard deduction for the following taxpayers. If an amount is zero, enter "0". Click here to access the Exhibits 3.4 and 3.5 to use. a. Ellie is 15 and claimed as a dependent by her parents. She has $1,000 in dividends income and $1,800 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 $14,900. C. Shonda is age 68 and single. She is claimed by her daughter as a dependent. Her earned income is $330, and her interest income is $785. 2,200 14,900 X 2,630 X
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Exercise 3-21 (Algorithmic) (LO. 2)
Compute the 2022 standard deduction for the following taxpayers.
If an amount is zero, enter "0".
Click here to access the Exhibits 3.4 and 3.5 to use.
a.
Ellie is 15 and claimed as a dependent by her parents. She has $1,000 in dividends
income and $1,800 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 $14,900.
C.
Shonda is age 68 and single. She is claimed by her daughter as a dependent. Her
earned income is $330, and her interest income is $785.
d. Frazier, age 56, is married but is filing a separate return. His wife itemizes her
deductions.
2,200 ✓
14,900 X
2,630 X
0
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