On june 1 2011 ellen turned 65 ellen has been a widow

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Payroll Accounting 2020
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Chapter 3 / Exercise 7
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42) On June 1, 2011, Ellen turned 65. Ellen has been a widow for five years and has no dependents. Her standard deduction is A) $3,700. B) $5,800. Answer: C Explanation: C) $5,800 + $1,450 = $7,250 Page Ref.: I:2-10 and I:2-11
C) $7,250. D) $11,600.
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Payroll Accounting 2020
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Chapter 3 / Exercise 7
Payroll Accounting 2020
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Expert Verified
7/22/2016 Tax Chapter 2 Flashcards | Quizlet 43) The regular standard deduction is available to which one of the following taxpayers? D) an abandoned spouse
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Page Ref.: I:2-12 and I:2-23 through I:2-24 44) Husband and wife, who live in a common law state, are eligible to file a joint return for 2011, but elect to file separately. They do not have dependents. Wife has adjusted gross income of $25,000
and has $2,200 of expenditures which qualify as itemized deductions. She is entitled to one exemption. Husband deducts itemized deductions of $11,200. What is the taxable income for the wife? Income of wife $25,000 Minus: Itemized deductions ( 2,200) Personal exemption ( 3,700) Taxable Income $19,100
45) Lewis, who is single, is claimed as a dependent on his parents' tax return. He received $2,000 during the year in dividends, which was his only income. What is his standard deduction? A) $950 B) $2,000 C) $2,300 D) $5,800 Answer: A Explanation: A) For a dependent, the standard deduction is the greater of earned income plus $300 or $950. Dividends are unearned income. Page Ref.: I:2-12; Example I:2-6
7/22/2016 Tax Chapter 2 Flashcards | Quizlet 46) Charlie is claimed as a dependent on his parents' tax return. He received $800 during the year in dividends, which was his only income. What is his standard
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deduction?

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