Tony, Age 15, Is Claimed as a Dependent by His

Multiple Choice

Tony, age 15, is claimed as a dependent by his grandmother.During 2012, Tony had interest income from Boeing Corporation bonds of $1,000 and earnings from a part-time job of $700.Tony's taxable income is:

A) $0.
B) $1,700 - $700 - $950 = $50.
C) $1,700 - $1,000 = $700.
D) $1,700 - $950 = $750.
E) None of the above.