Warren, Age 17, Is Claimed as a Dependent by His

question 74

Essay

Warren, age 17, is claimed as a dependent by his father. In 2017, Warren has dividend income of $1,500 and earns $400 from a part-time job.
a.What is Warren's taxable income for 2017?
b.Suppose Warren earned $1,200 (not $400) from the part-time job. What is Warren's taxable income for 2017?

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Definitions:

Primary Consumer

Herbivores that feed on primary producers (plants and algae), playing a pivotal role in the transfer of energy through the food chain.

Bird

A warm-blooded vertebrate characterized by feathers, beaks, and typically the ability to fly.

Primary Producer

Organisms, typically plants and algae, that produce organic compounds from carbon dioxide through photosynthesis, serving as a food source for other organisms in the ecosystem.

Plant

Multicellular organisms in the kingdom Plantae that use photosynthesis to make their own food, characterized by green pigmentation, cellulose cell walls, and reproduction via spores or seeds.