Business, 06.02.2021 03:20 masonrochester7

Determine the amount of the standard deduction allowed for 2020 in the following independent situations. In each case, assume that the taxpayer is claimed as another person's dependent. Amount of the Standard Deduction a. Curtis, age 18, has income as follows: $700 interest from a certificate of deposit and $12,600 from repairing cars.$fill in the blank 1 b. Mattie, age 18, has income as follows: $600 cash dividends from a stock investment and $4,700 from handling a paper route.$fill in the blank 2 c. Jason, age 16, has income as follows: $675 interest on a bank savings account and $800 for painting a neighbor's fence.$fill in the blank 3 d. Ayla, age 15, has income as follows: $400 cash dividends from a stock investment and $500 from grooming pets.$fill in the blank 4 e. Sarah, age 67 and a widow, has income as follows: $500 from a bank savings account and $3,200 from babysitting.$fill in the blank 5

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Answer from: ericchen4399

A. $12,000

B. $5,050

C. $1,150

D.$1,050

E. $5,150

Explanation:

a. Calculation to Determine the amount of the standard deduction allowed for 2020 for Curtis

2020 Standard deduction allowed =$12,600+$350

2020 Standard deduction allowed=$12,950

Based on the above calculation the Standard deduction allowed was $12,950 which is higher or Exceeded the 2020 standard deduction of the amount of $12,000 for a single taxpayer which means that the amount of the standard deduction allowed for 2020 for Curtis will be $12,000.

b. Calculation to Determine the amount of the standard deduction allowed for 2020 for Mattie

2020 Standard deduction allowed =$4,700+$350

2020 Standard deduction allowed=$5,050

Therefore the amount of the standard deduction allowed for 2020 for Mattie will be $5,050

c. Calculation to Determine the amount of the standard deduction allowed for 2020 for Jason

2020 Standard deduction allowed =$800+$350

2020 Standard deduction allowed=$1,150

Therefore the amount of the standard deduction allowed for 2020 for Jason will be $1,150

d. Calculation to Determine the amount of the standard deduction allowed for 2020 for Ayla

Based on the information given the amount of the standard deduction allowed for 2020 for Ayla will be the amount of $1,050 reason been that the 2020 standard deduction allowed for for Ayla cannot in any way exceed the amount of $1,150 or $850 which is Calculated as ($500+$350)

Therefore the amount of the standard deduction allowed for 2020 for Ayla will be $1,050

e. Calculation to Determine the amount of the standard deduction allowed for 2020 for Sarah

2020 Standard deduction allowed =$3,200+$350+$1,600

2020 Standard deduction allowed=$5,150

Note that the amount of $1,600 represent the standard additional deduction.

Therefor thee amount of the standard deduction allowed for 2020 for Sarah will be $5,150

Answer from: Quest

Well, i would start out by advertising a lot. take money out of unused profit to have build boards put up and internet advertising. also, make sure your store signs are large and noticeable. make sure you have good deals and prices that the average consumer would be okay with. also, location is key. being in a high technology based city/location would be excellent for your business because it is based off of technology. hope this ! : )

Answer from: Quest

Answerthe market value of goods and services produced in as country in a year;

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