Tony, age 15, is claimed as a dependent by his grandmother. During 2019, he had interest income from Boeing Corporation bonds of $1,000 and earnings from a part-time job of $800. Tony’s taxable income is:
A. $1,800.
B. $1,800 – $800 – $1,100 = ($100).
C. $1,800 – $1,150 = $650.
D. $1,800 – $1,100 = $700.
E. None of these.
Answer: C
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