Earned income from wages, Elise, age 20 is a full time college student with earned income, Accounting Basics

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Earned income from wages

Problem:

Elise, age 20 is a full time college student with earned income from wages of $4,400 and interest income of $500. Elise's parents provide more than half of her support.

Required:

Elise's taxable income is?

a. $-0-

b. $200

c. $500

d. $3,950

Note: Please show how to work it out.

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Accounting Basics: Earned income from wages

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Accounting Basics: Earned income from wages

Reference No:- TGS0883368

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Earned income from wages

Reference No:- TGS0883368

Recent Questions Asked Accounting Basics

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