Jackson is 18 years old and has a dog - sitting business. Calculate the 2024 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 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 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.
Jackson is 18 years old and has a dog - sitting business. Calculate the 2024 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 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 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.
Chapter8: Taxation Of Individuals
Section: Chapter Questions
Problem 37P
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Transcribed Image Text:Jackson is 18 years old and has a dog - sitting
business. Calculate the 2024 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
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
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.
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