What is the amount of the standard deduction for Evelyn who is a full-time student and claimed as a dependent by her parents? She earned $2,700 in wages in 2018.
What will be an ideal response?
Evelyn's standard deduction is $3,050. When a taxpayer can be claimed as a dependent on another return, the basic standard deduction for the taxpayer is limited to the greater of (a) $1,050, or (b) the taxpayer's earned income plus $350.
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