Matthew is 16 years old and can be claimed as a dependent by his parents....
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Accounting
Matthew is years old and can be claimed as a dependent by his parents. He received $ in dividends and $ in interest and earned $ from odd jobs during the year. Will Matthew need to file a separate tax return? Why? No His gross income is under the standard deduction. No His gross income does not exceed the maximum limit for a dependent. Yes. His unearned income exceeds the maximum limit for a dependent. Yes. His earned income exceeds the maximum limit for a dependent.
Matthew is years old and can be claimed as a dependent by his parents. He received $ in dividends and $ in interest and
earned $ from odd jobs during the year. Will Matthew need to file a separate tax return? Why?
No His gross income is under the standard deduction.
No His gross income does not exceed the maximum limit for a dependent.
Yes. His unearned income exceeds the maximum limit for a dependent.
Yes. His earned income exceeds the maximum limit for a dependent.
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