Federal exemptions for jane and sid

Reference no: EM13114205

Jane O'Reilly is a staff accountant and earns $39,000 annually. She is married to Sid Metcalf, a full-time student at State University. Sid earned $1,200 from securities his grandmother had given him in 2007. Jane pays all of the expenses incurred by the family, including their six-year-old adopted daughter, Tari. The three individuals and two cats, Snowball and Frank, live in a downtown condo. How many dependency exemptions may be claimed for tax purposes? Explain.

Reference no: EM13114205

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