Taylor, age 18, is claimed as a dependent by her parents. For 2014, she records the following income: $4,000 wages from a summer job, $1,800 interest from a money market account, and $2,000 interest...

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Taylor, age 18, is claimed as a dependent by her parents. For 2014, she records 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 Boston bonds. If an amount is zero, enter "0".

Answered Same DayDec 24, 2021

Answer To: Taylor, age 18, is claimed as a dependent by her parents. For 2014, she records the following...

David answered on Dec 24 2021

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a) Wages. $4000
Money market Instruments. 1800
Bond interest (Exempt). -0-
Gross Income. $5800
Less: Standard deduction* (4350)
Personal exemption**. 0
Taxable income. 1450
b) Money market interest ...

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Taylor, age 18, is claimed as a dependent by her parents. For 2014, she records the following income: $4,000 wages from a summer job, $1,800 interest from a money market account, and $2,000 interest...

Answer To: Taylor, age 18, is claimed as a dependent by her parents. For 2014, she records the following...

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