Christopher is a single college student and earns $13,000 from a part-time job. He has taxable interest income of $1,400 and itemized deductions of $690
Calculate Christopher's taxable income for 2015 assuming his parents do not claim him as a dependent on their tax return.
A) $4,100
B) $4,000
C) $10,510
D) $12,310
Answer: A
Explanation: A)
Adjusted Gross Income: $14,400 ($13,000 + $1,400)
Standard Deduction $5,950
Personal Exemption $3,800
Taxable Income $4,650
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