Child has earned Income of $ 12,500 who is full time student age 23 years. Parents will claim as dependent. What will be standard deduction for child.

[larryassociates]

What is Standard deduction for child who has earned Income of $ 12,500 but is dependent on Parents' tax return?

[rbynaker · Accepted solution]

Is there a multiple choice on this one?

I'll take "(c) $12,000".  Unless maybe the child is blind.

[TAXOH]

I'll go with $12,000 also.

[IRonMaN]

I'll go with $11,999.59 --------------- I don't like to feel peer pressure and do what everybody else does.

[TAXOH]

:+1: