RECOMMENDED!!ACCOUNTING 211-Tom is a 17 year old dependent of his parents

  

Tom is a 17 year old dependent of his parents. Tom earned $3000 working part time at a car wash in 2017. John also earned $2300 in interest income. John’s parents have a 33% federal marginal rate in 2017. How much may Tom claim as a personal exemption? what is Tom’s standard deduction, taxable income and 2017 federal tax ?

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