Help me out in this one question clearly Sarah is 23 years o

Help me out in this one question: clearly

Sarah is 23 years old, a full-time student and a dependent of her parents. She earns $3,800 working part time and receives $2,700 interest on savings. She saves both the salary and interest.(The tax year is 2017) Click the icon to view the standard deduction amounts. Requirement What is her taxable income? Would her taxable income or tax be different if Sarah were 16 years old? Sarah\'s taxable income is

Solution

Wages 3800 Interest income 2700 Gross income 6500 Minus: standard deduction 4150 Taxable income 2350 standard deduction Earned income 3800 a Plus 350 4150 b Higher of a or 1050 4150