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Montague (age 15) is claimed as a dependent by his parents, Matt and Mary. In 2019, Montague received $5,090 of qualified dividends, and he received $890 from a part-time job. What is his taxable income for 2019?

User Shadyyx
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1 Answer

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Answer:

His taxable income for 2019 is $4,740

Step-by-step explanation:

In order to calculate his taxable income for 2019 first we have to calculate the following:

First we have calculate the sum of the total income (earned and unearned)=$5,090+ $890=$5,980

Taxable income for 2019=total income-Higher of the following two:a. $1,000 or b. $890+$350

Therefore, Taxable income for 2019=$5,980-$1,240

=$4,740

His taxable income for 2019 is $4,740

User Ali Radmanesh
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