For each of the following situations, indicate whether the taxpayer(s) is(are) required to file a tax return for 2016 . Explain your answer
a.
Debra, age 68, and Jerry, age 70, are married and file a joint return. They received $24,000 in interest income from a savings account.
b. Margie is a single taxpayer with wages in 2015 of $8,400 and interest income of $200.
c.
Janie, age 30, and Scott, age 28, are married and file a joint tax return. They had $17,000 in earnings from wages.
d.
Kim, age 20, is a single college student who is claimed as a dependent by her parents. She earned $2,000 from a part-time job and has $450 in interest income.
e.
Stefanie, a 25-year-old single taxpayer, has wages of $1,500, from which $80 of federal income tax was withheld.
a.
Yes. The standard deduction of $12,600 plus $8,100 in personal exemptions plus 2 additional standard deductions of $1,250 each add up to $23,200, less than the income of $24,000.
b.
No. Income of $8,600 is less than the sum of the $4,050 personal exemption plus the $6,300 standard deduction.
c.
No. The income of $17,000 is less than the sum of the $8,100 personal exemptions plus the $12,600 standard deduction.
d.
Yes. Gross income is more than the larger of $1,050 or $2,350 (earned income of $2,000 plus $350).
e.
No. Stefanie is not required to file a tax return, but she must file if she wishes to receive a refund of the income tax withheld.
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