Tom is 36 years old and has never been married.Frank, age 13, is Tom's nephew who lived with him all year. Tom provided all of his supportand provided over half the cost of keeping up the home.Tom earned $44,000 in wages.Tom is blind and cannot be claimed as a dependent by another taxpayer.Tom and Frank are U.S. citizens, have valid Social Security numbers, and lived in the U.S. theentire year.2. Tom is blind and can claim a standard deduction amount of: A. $12,950 B. $19,400 C. $21,150 D. $25,900

Blind taxpayers refers tp the individual or person in the United States who lack vision and…

Answered: Tom is 36 years old and has never been…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Question

Tom is 36 years old and has never been married. Frank, age 13, is Tom's nephew who lived with him all year. Tom provided all of his support and provided over half the cost of keeping up the home. Tom earned $44,000 in wages. Tom is blind and cannot be claimed as a dependent by another taxpayer. Tom and Frank are U.S. citizens, have valid Social Security numbers, and lived in the U.S. the entire year. 2. Tom is blind and can claim a standard deduction amount of:


	A. $12,950


	B. $19,400


	C. $21,150


	D. $25,900

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions