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Compute the 2023 standard ded

Compute the 2023 standard ded

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Compute the 2023 standard deduction for the following taxpayers: If an amount is zero, enter "0". Click here to access the Exhibits 9.4 and 9.5 to use. a. Ellie is 15 and claimed as a dependent by her parents. She has $1,250 in dividend income and $1,760 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 $11,390. Shonda is age 68 and single. She is claimed by her daughter as a dependent. Her earned income is $270, and her interest income is $245. d. Frazier, age 34, is married but is filing a separate return. His wife itemizes her deductions. C. 2,160 27700 3,100 0
Transcribed Image Text:Compute the 2023 standard deduction for the following taxpayers: If an amount is zero, enter "0". Click here to access the Exhibits 9.4 and 9.5 to use. a. Ellie is 15 and claimed as a dependent by her parents. She has $1,250 in dividend income and $1,760 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 $11,390. Shonda is age 68 and single. She is claimed by her daughter as a dependent. Her earned income is $270, and her interest income is $245. d. Frazier, age 34, is married but is filing a separate return. His wife itemizes her deductions. C. 2,160 27700 3,100 0
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