How much is Evas standard deduction for tax year

Assignment Help Accounting Basics
Reference no: EM132524191

Question - Young's dependent daughter, Eva, age 19, is a college student. During 2018, Eva had $480 in interest income and $4,150 in dividend income. Also, she had $6,800 in income from her part-time job and had tax withholdings from the job. Young provided more than half of Eva's support and will claim Eva as a dependent on his tax return. How much is Eva's standard deduction for tax year 2018?

a) $6,350

b) $1,050

c) $ 0

d) $7,150

Reference no: EM132524191

Questions Cloud

Producing fashionable clothes for the customers : The company is contemplating making a change in credit policy from cash basis. The following alternatives are placed for the evaluation:
What is to know about the two particular methods : The two concepts of Equivalant Units and the various methods used for their calculations. What is there to know about these two particular methods.
Constitutional issues : Analyze the evolution of the court's interpretation of a "reasonable expectation of privacy" from Olmstead v. U.S (1928) to Katz v. U.S (1967)
Reconcile the difference in profits for each month : Reconcile the difference in profits for each month. Prepare two profit statements. Each in comparative columnar form, covering each of three months
How much is Evas standard deduction for tax year : Young provided more than half of Eva's support and will claim Eva as a dependent on his tax return. How much is Eva's standard deduction for tax year 2018
Implementing and maintaining an information system : Understand how unit tests are used during software development to assist in agile programming techniques such as refactoring and demonstrate skills in designing
Basic analysis of the merger and amalgamation : Basic analysis of the Merger and Amalgamation deal between Global Payments and Total System Services
Alternative approaches to dealing with juvenile offenders : Creating alternative approaches to dealing with juvenile offenders that would still be handled via the state court's system might be a mandatory
What is the total amount lee can deduct for mileage : Lee itemizes deductions and uses his car for both business and charitable purposes. What is the total amount Lee can deduct for mileage on his car for 2018

Reviews

Write a Review

Accounting Basics Questions & Answers

  Discuss shares of stock outstanding and declares

Company Zen has 700,000 shares of stock outstanding and declares a 30% stock dividend. Which of the following is false

  What is the firm weighted average cost

A firm's beginning direct materials costs were $1,000, What is the firm's weighted average cost per equivalent unit on direct materials

  What is their net tax savings percentage

Nancy gave her grandson, Sean, twenty acres of land. What is their net tax savings percentage as a family unit if Sean sells the land

  What is the material price variance

Cartman makes Supersized Cheezy-Poofs. What is the material price variance? What is the material quantity variance

  Computer-assisted audit technique

What are the advantages and disadvantages of the computer-assisted audit technique known as parallel simulation?

  Describe the major funds for a governmental entity

Describe the major funds for a governmental entity and what items belong in those funds

  The swiss franc and british pound

Exposure to Cash Flows Raton Co. is a U.S. company that has net inflows of 100 million Swiss francs and net outflows of 100 million British pounds. The present exchange rate of the Swiss franc is about $.70 while the present exchange rate of the p..

  Determining the product cost

Product cost: ABC Company believes that it has an additional 5,000 machine hours available in the current facility before it would need to expand.

  Prepare a statement of cash flows for good

Prepare a statement of cash flows for 2018 in good form using the indirect method for cash flows from operating activities. USE Worksheet Provide in class.

  Explain why these amounts are different

Ruiz Inc.'s common stock has a par value of $1 and a current market value of $15. Explain why these amounts are different.

  Prepare revised trading account and show by journal entries

J. Smith and Co. are retailers of electrical applicances. As from 1st July, 1953, they have sold goods on hire-purchase terms as well as for cash.

  Issues in implementing the use of ifrs

Assume that you have been invited to advise the newly established accounting oversight body in one of the former eastern European countries.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd