Question

Robbie is a 20 year old dependent who is a full time student. Robbie has $6,800 in income from wages and $6,000 of interest income from bonds inherited from his grandmother. What is the amount of Robbie's Taxable Income

Answer 1

$5,650

Step-by-step explanation:

Calculation for What is the amount of Robbie's Taxable Income

Wages $6,800

Add Interest Income $6,000

= Adjusted Gross Income $12,800

($6,800+$6,000)

Less Standard Deduction ($7,150)

Taxable Income $5,650

($12,800-$7,150)

Therefore the amount of Robbie's Taxable Income is $5,650