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masya89 [10]
3 years ago
8

Julie Jefferson is a 16 year old dependent high school student. Julie earns $5,000 from a part-time job. Julie's applicable stan

dard deduction for 2020 that may be taken on her own return is ___________.
Business
1 answer:
Lorico [155]3 years ago
7 0

Answer: d. $5,350

Explanation:

According to 2020 tax laws, a dependent minor such as Julie Jefferson here can claim a standard deduction that is the greater of:

a. $1,100 or,

b. earned income + $350 so long as it does not exceed $12,400.

Julie's applicable standard deduction is therefore:

= 5,000 + 350

= $5,350

<em>This is greater than $1,100 and so is her applicable standard deduction. </em>

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