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Hannah, age 70 and single, is claimed as a dependent by her daughter. During 2018, she...

Hannah, age 70 and single, is claimed as a dependent by her daughter. During 2018, she had interest income of $2,550 and $800 of earned income from babysitting. Hannah’s taxable income is:

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Answer #1

$3,300 gross income – greater of $1,050 or ($800 earned income + $350) – $1,550 (additional standard deduction for age 65 and older) = $600.

She is not eligible for a personal exemption

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