Homework Answers
A Tax payer though married can claim head of household deduction $18350 subject to certain conditions. He should not be married meaning he could have been divorced or not living together with the spouse for the last six months of the tax year. He should not file a joint return with the spouse but a separate return. He should be paying more than half of the cost of maintaining the household and dependent.
But no where the law specifies that head of the household should provide a main home of a dependent for the entire year.
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Question 8 of 100 Following are requirements for a married taxpayer to be considered unmarried for the head of house...
All of the following are requirements for a married taxpayer to be considered unmarried for the...
All of the following are requirements for a married taxpayer to be considered unmarried for the head of household filing status with a standard deduction of $18,350 EXCEPT when the taxpayer____ . a) Did not live with their spouse during the last six months of the tax year. b) Files a separate return from their spouse. c) Pays more than half the cost of maintaining the household for the tax year. d) Provides the main home of a dependent for...
Determine the appropriate number of Qualified Dependents for the following taxpayer: T) is unmarried and supports...
Determine the appropriate number of Qualified Dependents for the following taxpayer: T) is unmarried and supports his son and his son's wife, both of whom lived with him for the entire year. His son and daughter-in-law (both age 20) file a joint return to get a full refund, as their gross income was $3,500. Both son and daughter-in-law are full-time students at a local college. QUESTION 2 Identify the best Filing Status for the following taxpayer: Ted is divorced and...
6. Which one of the following is considered being married for tax purposes? A. Persons living...
6. Which one of the following is considered being married for tax purposes? A. Persons living apart and legally separated or divorced. B. Persons whose marriage is annulled. C. A person whose spouse died during the year. 7. Which one of the following statements describes the consequences of using the filing status ‘married filing jointly’? A. A spouse may not be held responsible for tax if that spouse had no income. B. The tax rates are generally more favorable than...
To qualify for head of household filing status, a taxpayer must meet all of the following...
To qualify for head of household filing status, a taxpayer must meet all of the following except: A. Be unmarried (or considered to be unmarried under the provisions discussed below) at the end of the year. B. Not be a qualifying widow or widower. C. Pay more than half the costs of keeping up a home for the year. D. Have a “qualifying person” live in the taxpayer’s home for more than half the year (except for temporary absences such...
this legend or statuses) in each of the following independent cases, using A - Single B...
this legend or statuses) in each of the following independent cases, using A - Single B Married, filing a joint return c Married, filing separate returns D Head of household E - Qualifying widow(er) Case Filing Status 1. The taxpayers are married on December 31 a 2. The taxpayer is single, with 3. The taxpayer is unmarried and i 4. The taxpayer is married and his spouse left midyear and has f the tax yea a dependent child living in...
a) A taxpayer who provides 40% of the support of her parents and claims them as...
a) A taxpayer who provides 40% of the support of her parents and claims them as dependents because of a multiple support agreement can use the head of household filing status even if the parents live in a nursing home. T or F b) Rex and Roxanne are married and will file a joint return in 2014 (if required). Rex is 59 and blind, while Roxanne is 66 and in good health. At what exact amount of gross income will...
1) A dependent child, age 18 and single has wages of $3,900 and dividend income of...
1) A dependent child, age 18 and single has wages of $3,900 and dividend income of $3,300 in tax year 2014. What is her standard deduction? 2) Refer to question 1. Assume that she is subject to the kiddie tax, and her father, her sole surviving parent, has taxable income of $49,000 and files his 2014 return using the head of household filing status. What is the child's tax liability? 3) A taxpayer who provides 40% of the support of...
1) A dependent child, age 18 and single has wages of $3,900 and dividend income of...
1) A dependent child, age 18 and single has wages of $3,900 and dividend income of $3,300 in tax ... Assume that she is subject to the kiddie tax, and her father, her sole surviving parent, has taxable income of $49,000 and files his 2014 return using the head of household filing status. What is the child's tax liability? 2) A taxpayer who provides 40% of the support of her parents and claims them as dependents because of a multiple...
Question 44 of 75. h (35) is divorced from Dan (40). They are the parents of Boyd (12). Boyd live...
Question 44 of 75. h (35) is divorced from Dan (40). They are the parents of Boyd (12). Boyd lives with his mother, Barb, who pays over half ost of maintaining the home. The divorce decree gives Dan the unconditional right to claim the dependency exemption for filing status is 0 Head of household. O Married filing jointly O Married fling separately O Single tion for Boyd. Boyd meets all of the tests for dependency for Barb as a qualifying...
When determining if a taxpayer qualifies for the Joint Custody Head of Household Credit, he or...
When determining if a taxpayer qualifies for the Joint Custody Head of Household Credit, he or she must have kept up the taxpayer's home as a household that was the main home for the taxpayer's unmarried child, stepchild, or grandchild; or married child, stepchild, or child's descendant whom the taxpayer could claim as a dependent for at least how many days of the year? A. 100 daysB. 146 daysC. 150 daysD. 157 days
Determine the appropriate number of Qualified Dependents for the following taxpayer: T) is unmarried and supports his son and his son's wife, both of whom lived with him for the entire year. His son and daughter-in-law (both age 20) file a joint return to get a full refund, as their gross income was $3,500. Both son and daughter-in-law are full-time students at a local college. QUESTION 2 Identify the best Filing Status for the following taxpayer: Ted is divorced and...
this legend or statuses) in each of the following independent cases, using A - Single B Married, filing a joint return c Married, filing separate returns D Head of household E - Qualifying widow(er) Case Filing Status 1. The taxpayers are married on December 31 a 2. The taxpayer is single, with 3. The taxpayer is unmarried and i 4. The taxpayer is married and his spouse left midyear and has f the tax yea a dependent child living in...
Question 44 of 75. h (35) is divorced from Dan (40). They are the parents of Boyd (12). Boyd lives with his mother, Barb, who pays over half ost of maintaining the home. The divorce decree gives Dan the unconditional right to claim the dependency exemption for filing status is 0 Head of household. O Married filing jointly O Married fling separately O Single tion for Boyd. Boyd meets all of the tests for dependency for Barb as a qualifying...
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