Lewis,who Is Single,is Claimed as a Dependent on His Parents

question 11

Multiple Choice

Lewis,who is single,is claimed as a dependent on his parents' tax return.He received $2,000 during the year in dividends,which was his only income.What is his standard deduction for 2017?

• A)$1,050
• B)$2,000
• C)$2,350
• D)$6,350

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Definitions:

Verbal Agreement

An arrangement or contract that is made through spoken word rather than written documentation, but can still be legally binding.

Specific Performance

A legal remedy requiring a party to fulfill their obligations under a contract, rather than paying damages.

Charitable Tax Relief

Tax deductions or exemptions offered to individuals or organizations for donations made to registered charitable entities.

Statute of Frauds

A legal concept that requires certain types of contracts to be in writing and signed by the parties to be enforceable.