What is the amount of the standard deduction for a full-time college student with a part-time job making $6,600, who is claimed as a dependent?

What is the amount of the standard deduction for a full-time college student with a part-time job making $6,600, who is claimed as a dependent?

• A. $1,100
• B. $6,600
• C. $6,950
• D. $12,200

Answer: (C)

For a full-time college student who is claimed as a dependent, the standard deduction is determined differently than for those who are not dependents. The key component to consider in this scenario is that dependents have a standard deduction that is limited to the greater of $1,100 or the individual's earned income plus $350, with a cap based on the standard deduction amount for a single filer. In this case, the student has earned income of $6,600. Therefore, the calculation for their standard deduction would be as follows: 1. The earned income ($6,600) plus $350 gives $6,950. 2. The standard deduction for a single taxpayer, which typically is higher than the dependent calculation, is $12,200 for the 2021 tax year, but as a dependent, the student must take the lesser of this or their calculated amount of $6,950. As a result, since $6,950 (the calculation based on their income) is less than the maximum standard deduction they would qualify for as a single taxpayer, that becomes the student's standard deduction amount. Thus, $6,950 becomes the correct answer for this student’s standard deduction when claimed as a dependent.

For a full-time college student who is claimed as a dependent, the standard deduction is determined differently than for those who are not dependents. The key component to consider in this scenario is that dependents have a standard deduction that is limited to the greater of $1,100 or the individual's earned income plus $350, with a cap based on the standard deduction amount for a single filer.

In this case, the student has earned income of $6,600. Therefore, the calculation for their standard deduction would be as follows:

1. The earned income ($6,600) plus $350 gives $6,950.

2. The standard deduction for a single taxpayer, which typically is higher than the dependent calculation, is $12,200 for the 2021 tax year, but as a dependent, the student must take the lesser of this or their calculated amount of $6,950.

As a result, since $6,950 (the calculation based on their income) is less than the maximum standard deduction they would qualify for as a single taxpayer, that becomes the student's standard deduction amount. Thus, $6,950 becomes the correct answer for this student’s standard deduction when claimed as a dependent.