Jackson is 18 years old and has a dog-sitting business. Calculate the 2022 standarddeduction Jackson will claim under the following independent circumstances.a) Jackson reported $2,000 of earnings from his dog sitting and $300 in interestincome from his savings account. Jackson's parents claim him as a dependent.b) Jackson reported $500 of earnings from his dog sitting and $2,000 in interestincome from his savings account. Jackson's parents claim him as a dependent.c) Jackson reported $8,000 of earnings from his dog sitting and $3,000 in interestincome. Jackson's parents do not claim him as a dependent.

Situation a) - Dog sitting earnings: $2,000- $300 in interest income - Jackson is a dependent.…

Answered: Jackson is 18 years old and has a…

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter4: Gross Income: Concepts And Inclusions

Section: Chapter Questions

Problem 49P

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