Tony,age 15,is Claimed as a Dependent by His Grandmother

question 58

Multiple Choice

Tony,age 15,is claimed as a dependent by his grandmother.During 2010,Tony had interest income from Boeing Corporation bonds of $1,000 and earnings from a part-time job of $700.Tony's taxable income is:

• A)$0.
• B)$1,700 - $700 - $950 = $50.
• C)$1,700 - $1,000 = $700.
• D)$1,700 - $950 = $750.
• E)None of the above.

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