Jackson is 18 years old and has a dog-sitting business. Calculate the 2022 standard deduction Jackson will claim under the following independent circumstances. a. Jackson reported $2,000 of earnings from his dog sitting and $300 in interest income from his savings account. Jackson's parents claim him as a dependent. Standard deduction: b. Jackson reported $500 of earnings from his dog sitting and $2,000 in interest income from his savings account. Jackson's parents claim him as a dependent. Standard deduction: c. Jackson reported $8,000 of earnings from his dog sitting and $3,000 in interest income. Jackson's parents do not claim him as a dependent. Standard deduction:
Jackson is 18 years old and has a dog-sitting business. Calculate the 2022 standard deduction Jackson will claim under the following independent circumstances. a. Jackson reported $2,000 of earnings from his dog sitting and $300 in interest income from his savings account. Jackson's parents claim him as a dependent. Standard deduction: b. Jackson reported $500 of earnings from his dog sitting and $2,000 in interest income from his savings account. Jackson's parents claim him as a dependent. Standard deduction: c. Jackson reported $8,000 of earnings from his dog sitting and $3,000 in interest income. Jackson's parents do not claim him as a dependent. Standard deduction:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Jackson is 18 years old and has a dog-sitting business. Calculate the 2022 standard deduction Jackson will claim under the following independent circumstances.
a. Jackson reported $2,000 of earnings from his dog sitting and $300 in interest income from his savings account. Jackson's parents claim him as a dependent.
Standard deduction:
b. Jackson reported $500 of earnings from his dog sitting and $2,000 in interest income from his savings account. Jackson's parents claim him as a dependent.
Standard deduction:
c. Jackson reported $8,000 of earnings from his dog sitting and $3,000 in interest income. Jackson's parents do not claim him as a dependent.
Standard deduction:
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