How much is his taxable income


a) John is 12 years old. His parents claim him as a dependent. In 2009 his only income is $1400 of interest income. How much is his taxable income?

 

b) Assume the same information as above except he also had a part time job and earned $2500 in wages. How much is his taxable income?

 

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Accounting Basics: How much is his taxable income
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