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SSSSS [86.1K]
3 years ago
13

Stephanie is a twelve-year-old who often assists neighbors on weekends by babysitting their children. Calculate the 2013 standar

d deduction Stephanie will claim under the following independent circumstances (assume that Stephanie's parents will claim her as a dependent).a.Stephanie reported $850 of earnings from her babysitting.Standard deduction: b.Stephanie reported $1,500 of earnings from her babysitting.Standard deduction:
c.Stephanie reported $6,200 of earnings from her babysitting.
Business
1 answer:
Delicious77 [7]3 years ago
8 0

Answer:

a) $1,200

b) $1,850

c) $6,200

Explanation:

First ,we are to determine Stephanie's claims based on different circumstances using the 2013 standard deduction

a) Reported $850 earnings from babysitting - claim 1,200

For 2013, the minimum standard deduction is $1,000, hence Stephanie is able to claim the greater of the following two: The minimum standard deduction of $1,000 or her earned income of $850 + $350 which is $1,200. Stephanie can claim $1,200

b) Reported $1500 - Claim $1,850

For 2013, the minimum standard deduction is $1,000, hence Stephanie is able to claim the greater of the following two: The minimum standard deduction of $1,000 or her earned income of $1500+ $350 which is $1,850. Stephanie can claim $1,850

c) reported $6,200 - Claim $6,200

For 2013, the minimum standard deduction is $1,000, hence Stephanie is able to claim the greater of the following two: The minimum standard deduction of $1,000 or her earned income of $6200+ $350 which is $6,550. However, she can only claim $6,200 because as a 2013 the maximum standard deduction for a single person which is her filing status is $6,200

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