Meg, Age 23, Is a Full-Time Law Student and Is

question 121

Essay

Meg, age 23, is a full-time law student and is claimed by her parents as a dependent.During 2012, she received $1,400 interest income from a bank savings account and $5,800 from a part-time job.What is Meg's taxable income for 2012?

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Definitions:

Civil Rights Act

A landmark piece of legislation in the United States that prohibits discrimination on the basis of race, color, religion, sex, or national origin.

Civil Rights Acts

Legislation aimed at eliminating discrimination based on race, religion, sex, or national origin and protecting the civil rights of individuals.

Compensatory Damages

Monetary awards to a plaintiff in a lawsuit to compensate for losses or injuries incurred.

Punitive Damages

Financial compensation awarded by a court to the plaintiff, over and above the actual damages, to punish the defendant for egregious conduct.