Danny Liu is 20 years old and is considered a dependent of his parents for...
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Accounting
Danny Liu is 20 years old and is considered a dependent of his parents for tax purposes. Assume the taxable year is 2019. Compute Dannys taxable income if Dannys only income item was $2,712 interest earned on a certificate of deposit. Compute Dannys taxable income if Danny had two income items: $2,712 interest earned on a certificate of deposit and $3,276 wages from a part-time job. Compute Danny's taxable income if he was not considered a dependent of his parents for tax purposes in part a and part b.
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