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Yes, as a dependent, your standard deduction for earned income is $12,000, but it is much smaller, $1050, for unearned income.
*For 2019, the standard deduction amount for an individual who may be claimed as a dependent by another taxpayer cannot exceed the greater of $1,100 or the sum of $350 and the individual’s earned income (not to exceed the regular standard deduction amount).
Yes, as a dependent, your standard deduction for earned income is $12,000, but it is much smaller, $1050, for unearned income.
*For 2019, the standard deduction amount for an individual who may be claimed as a dependent by another taxpayer cannot exceed the greater of $1,100 or the sum of $350 and the individual’s earned income (not to exceed the regular standard deduction amount).
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