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In: Accounting

William, a 42 year old bachelor, pays $450 per month support for his 75-year old mother...

William, a 42 year old bachelor, pays $450 per month support for his 75-year old mother who is disabled and living in a rest home. She receives a taxable pension of $100 per month and uses the entire $550 per month for routine living expense.

Calculate number of exemptions that could be claimed and the standard deduction that the tax payer is entitled to take in 2019 in the above case.

Solutions

Expert Solution

Solution:

Number of exemptions that could be claimed = 2

Standard deduction that the tax payer is entitled to take in 2019 in the above case= $ 12,200

ekkarill92 answered 2 years ago
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