What is her taxable income Sarah, age 17, is claimed as a dependent by her parents. She received$2,800 from investments and $700 from a part-time job. She had$900 in itemized deductions. What is her taxable income?

Step 1: Definition of Taxable IncomeTaxable income is the income on which an individual or entity is…

Answered: Sarah, age 17, is claimed as a…

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter9: Individuals As Taxpayers

Section: Chapter Questions

Problem 29P

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Sarah, age 17, is claimed as a dependent by her parents. She received $2,800 from investments and $700 from a part-time job. She had $900 in itemized deductions. What is her taxable income?