Marvin, who is claimed as a dependent by his parents, is 16. He received income of $3,100 from a trust fund and $500 from wages. He had $1,100 in itemized deductions. What is his taxable income?
Marvin, who is claimed as a dependent by his parents, is 16. He received income of $3,100 from a trust fund and $500 from wages. He had $1,100 in itemized deductions. What is his taxable income?
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter9: Individuals As Taxpayers
Section: Chapter Questions
Problem 1CE
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Transcribed Image Text:Marvin, who is claimed as a dependent by his parents, is
16. He received income of $3,100 from a trust fund and
$500 from wages. He had $1,100 in itemized deductions.
What is his taxable income?
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