Fred is a 22-year-old full-time college student. During 2022, he earned $2,550 from a part-time job and $1,150 in interest income. Required: If Fred is a dependent of his parents, what is his standard deduction amount? If Fred supports himself and is not a dependent of someone else, what is his standard deduction amount?

Fred is a 22-year-old full-time college student. During 2022, he earned $2,550 from a part-time job and $1,150 in interest income. Required: If Fred is a dependent of his parents, what is his standard deduction amount? If Fred supports himself and is not a dependent of someone else, what is his standard deduction amount?

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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