Andres and Lakeisha Are Married and File Joint

question 31

Multiple Choice

Andres and Lakeisha are married and file joint. Andres is 72 years old and in good health. Lakeisha is 62 years old and blind. What amount of standard deduction can Andres and Lakeisha claim in 2018? Standard deduction

• A) $26,600.
• B) $27,200.
• C) $25,600.
• D) $25,300.
• E) none of the choices are correct.

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Definitions:

Debt Or Equity Securities

Financial instruments indicating ownership in a company (equity) or a loan made to the company or government entity (debt), which may produce income through interest or dividends.

Net Income

The net income of a company following the deduction of all costs, taxes, and expenses from the gross revenue.

Idle Cash

Idle cash refers to money that is not currently invested, spent, or utilized in any way, meaning it does not earn interest or contribute to the financial goals of an individual or company.

Money-Market Securities

Short-term financial instruments, typically with high liquidity and low risk, used for borrowing and lending in the money market.