Anne Marie is single, age 22 and claimed as a dependent on her parent’s tax return. During 2018, she was full time college student and received a scholarship to cover her tuition of $8,000. She had wages of $5000 from a part time job and investment income of $3000. Calculate Anne Marie’s taxable income.

Anne Marie is single, age 22 and claimed as a dependent on her parent’s tax return. During 2018, she was full time colle...
Anne Marie is single, age 22 and claimed as a dependent on her parent’s tax return. During 2018, she was full time college student and received a scholarship to cover her tuition of $8,000. She had wages of $5000 from a part time job and investment income of $3000. Calculate Anne Marie’s taxable income.
Michaella, age 23, is a full-time law student and is claimed by her parents as a dependent. During 2019, she received $1,400 interest income from a bank savings account and $12,000 from a part-time job. What is Michaella’s taxable income for 2019?
Michaella, age 23, is a full-time law student and is claimed by her parents as a dependent. During 2019, she received $1,400 interest income from a bank savings account and $12,000 from a part-time job. What is Michaella’s taxable income for 2019?
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:
Art, age 21, a full-time student at Western College, is claimed as a dependent by his parents. During 2018, he earned $1,600 from a summer job and $1,100 in interest from a savings account. Art's taxable income for 2018 is: a. $750. b. $1,100. c. $1,600. d. $2,700. e. None of the above.
Taylor, age 13, is claimed as a dependent by her parents. For 2018, she has the following income: $5,400 wages from a summer job, $1,950 interest from a money market account, and $1,875 interest from City of Boston bonds. If required, round your answers to the nearest dollar. If an amount is zero, enter "0". a. Taylor's standard deduction for 2018 is $ . Taylor's taxable income for 2018 is $ . b. Compute Taylor's "net unearned income" for the...
Tina, age 18, is claimed as a dependent by her parents. For 2020, she has the following income: $4,000 wages from a summer job, $1,800 interest from a money market account, and $2,000 interest from City of Chicago bonds. What is Tina’s taxable income for 2020?
Q1. Jena is a full-time undergraduate student at State University and is claimed by her parents as a dependent. Her only source of income is a $10,000 athletic scholarship ($1,000 for books, $5,500 tuition, $500 student activity fee, and $3,000 room and board). What's Jena's gross income for the year? Please explain. Q2. Christie sued her former employer for a back injury she suffered on the job in 2016. As a result of the injury, she was partially disabled. In...
in 2018, Carson is claimed as a dependent on her parent's tax return. Carson's parents provided most of his support. What is Carson's tax liability for the year in each of the following alternative circumstances? a) Carson is 23 years old at year end. He is a full time student and earned $14,975 from his summer internship and part time job. He also received $6,080 of qualified dividend income. Tax Liability XXX
. Sylvia, age 17, is claimed by her parents as a dependent for 2019. During 2019, she had wages from a part-time job of $2,000, capital gains income of $4,200, and no other income or deductions (except the standard deduction). Sylvia’s taxable income is: a. $6,200 – $2,350 = $3,850 b. $6,200 – $4,400 = $1,800. c. $6,200 – $4,550 = $1,650. d. $6,200 – $350 = $5,850. e. $6,200 – $1,050 = $5,150.