O2 compute the 2015 standard deduction for the following


22. LO.2 Compute the 2015 standard deduction for the following taxpayers.

Margie is 15 and claimed as a dependent by her parents. She has $800 in divi-

dends income and $1,400 in wages from a part-time job.

Ruby and Woody are married and file a joint tax return. Ruby is age 66 and

Woody is 69. Their taxable retirement income is $10,000.

Shonda is age 68 and single. She is claimed by her daughter as a dependent.

Her earned income is $500 and her interest income is $125.

Frazier, age 55, is married but is filing a separate return. His wife itemizes her

deductions.

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Accounting Basics: O2 compute the 2015 standard deduction for the following
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