Compute the 2021 standard deduction for the following taxpayers.If an amount is zero, enter "0".Click here to access the standard deduction table to use. a. Ellie is 15 and claimed as a dependent by her parents. She has $800 in dividends income and $1,400 in wages from a part-time job.$fill in the blank 1b. Ruby and Woody are married and file a joint tax return. Ruby is age 66, and Woody is 69. Their taxable retirement income is $10,000.$fill in the blank 2c. Shonda is age 68 and single. She is claimed by her daughter as a dependent. Her earned income is $500, and her interest income is $125.$fill in the blank 3d. Frazier, age 55, is married but is filing a separate return. His wife itemizes her deductions.

Taxpayer refers to the individual or the entity who has earned some value of money in a desired…

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10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

Related questions

Question

Compute the 2021 standard deduction for the following taxpayers.

If an amount is zero, enter "0".

Click here to access the standard deduction table to use.

a.	Ellie is 15 and claimed as a dependent by her parents. She has $800 in dividends income and $1,400 in wages from a part-time job.	$fill in the blank 1
b.	Ruby and Woody are married and file a joint tax return. Ruby is age 66, and Woody is 69. Their taxable retirement income is $10,000.	$fill in the blank 2
c.	Shonda is age 68 and single. She is claimed by her daughter as a dependent. Her earned income is $500, and her interest income is $125.	$fill in the blank 3
d.	Frazier, age 55, is married but is filing a separate return. His wife itemizes her deductions.