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

question 155

Multiple Choice

Tony,age 15,is claimed as a dependent by his grandmother.During 2016,Tony had interest income from Boeing Corporation bonds of $1,000 and earnings from a part-time job of $800.Tony's taxable income is:

• A)$1,800.
• B)$1,800 - $800 - $1,050 = ($50).
• C)$1,800 - $1,150 = $650.
• D)$1,800 - $1,050 = $750.
• E)None of these.

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Definitions:

Development

The process of growth, progress, or positive change within an individual, organization, or society.

Performance Potential

The capacity or ability of an individual or organization to achieve and exceed established goals or targets in a given period.

Qualified Workforce

A body of employees or workers who possess the necessary skills, qualifications, and experience to effectively perform their job roles.

Manager

An individual responsible for controlling or administering all or part of a company or similar organization, directing operations, and making key decisions.