WebFeb 14, 2024 · For this year, a child’s standard deduction amount is the greater of $1,150, or the sum of $400 plus the child’s earned income, if the child can be claimed as a dependent. Otherwise, the standard deduction for a single filer is $12,950. WebDec 1, 2024 · A tax return is necessary when their earned income is more than their standard deduction. The standard deduction for single dependents who are under age 65 and not blind is the greater of: $1,150 in 2024; Or the sum of $400 + the person's earned income, up to the standard deduction for an unclaimed single taxpayer which is …
Solved Max and his mother, Lucy, live together in his …
WebWhat is the standard deduction for dependents in 2024? For 2024, the standard deduction for dependents is limited to the greater of $1,150 or your earned income plus $400—but the total can't be more than the normal standard deduction available for your filing status.For 2024, the limit will be $1,250 or your earned income plus $400, … WebMax's mother has no income, and he is her full support. What tax relief may be available to Max for the expenses of caring for his elderly mother? A greater standard deduction … fmcsa foia office
Publication 503 (2024), Child and Dependent Care …
WebMay 17, 2024 · The federal tax brackets are progressive. If you’re a single filer and your 2024 taxable income is $55,000, $9,950 is taxed at 10%. Then, income between $9,951 and $40,525 is taxed at 12%. The remaining amount between $40,526 and $55,000 is taxed at 22%. Below are the tax rates for 2024 and 2024. WebOct 26, 2024 · For 2024, the standard deduction amount for an individual who may be claimed as a dependent by another taxpayer cannot exceed the greater of (1) $1,100 or (2) the sum of $350 and the individual ... WebFeb 2, 2024 · Publication 503, Child and Dependent Care Expenses; Publication 501, Dependents, Standard Deduction, and Filing Information; Form W-10, Dependent Care Provider's Identification and Certification; What is an ATIN? I am adopting a child and do not yet have a Social Security Number for the child. Child and Dependent Care Credit FAQs fmcsa fire extinguisher