Question

Stephanie is 12 years old and often assists neighbors on weekends by babysitting their children. Calculate...

Stephanie is 12 years old and often assists neighbors on weekends by babysitting their children. Calculate the 2018 standard deduction Stephanie will claim under the following independent circumstances (assume that Stephanie’s parents will claim her as a dependent).

a. Stephanie reported $850 of earnings from her babysitting.

Standard Deduction = ?

b. Stephanie reported $1,500 of earnings from her babysitting.

Standard Deduction = ?

c. Stephanie reported $18,000 of earnings from her babysitting.

Standard Deduction = ?

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Answer #1

a) Stephanie can claim a standard deduction of $1200, the greater of minimum standard deduction ($1050) or $350 plus her earned income ($850).

b) Stephanie can claim a standard deduction of $1850, the greater of minimum standard deduction($1050) or $350 plus her earned income ($1500).

c) Stephanie can claim a standard deduction of $6350, $350 plus her earned income ($18000) but limited to the maximum standard deduction for her filing status, (single in $6350 in 2018).

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