Individual Taxation - Filing Status Flashcards Preview

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Flashcards in Individual Taxation - Filing Status Deck (11):
1

T/F

An individual may file as Head-of-Household, even if the individuals living with them do not qualify as dependents

FALSE

If the individuals living with them do not qualify as dependents then the taxpayer cannot file as head-of-household.

2

T/F

A couple who is legally separate under a decree of separate maintenance can file as either Single or Married filing Separately

FALSE

They cannot file as Married Filing Separately.

They must file as Single if they are legally separated under a decree of separate maintenance on the last day of the taxable year (and assuming they do not qualify for head-of-household status)

3

T/F

For a taxpayer to be classified as a qualifying widow(er) they must have a dependent that has lived with them for 6 months

FALSE

4

T/F

For a taxpayer to be classified as a qualifying widow(er) they must have maintained the cost of the principal residence for 6 months

FALSE

5

Qualifying widow(er) filing status is available for ____ years following the year of the spouse's death if the surviving spouse was eligible to file a joint return in the year of the spouses's death, if the surviving spouse does not remarry before the end of the current year, and if the surviving spouse pays over ____ of the cost of maintaining a household that is the principal home of the surviving spouses's dependent child for the ____

2 years

50%

Entire Year

6

T/F

For head-of-household filing status, insurance on the home is considered in determining whether the taxpayer has contributed more than 1/2 the cost of maintaining the household

TRUE

The costs of maintaining a household includes such costs as rent, mortgage interest, taxes, insurance on the home, repairs, utilities, and food eaten in the home.

7

T/F

For head-of-household filing status, rental value of the home is considered in determining whether the taxpayer has contributed more than 1/2 the cost of maintaining the household

FALSE

The cost of maintaining a household does not include the cost of clothing, education, medical treatment, vacations, life insurance, transportation, the rental value of a home an individual owns, or the value of an individual's services or those of any member of the household

8

T/F

A husband and wife can file a joint return even if the spouses have different tax years, provided that both spouses are alive at the end of the year

FALSE

Spouses must have the same tax year to file a joint return

9

T/F

A husband and wife can file a joint return even if the spouses have different accounting methods

TRUE

10

T/F

A husband and wife can file a joint return even if either spouse was a nonresident alien at any time during the tax year, provided that at least one spouse makes the proper election

FALSE

BOTH spouses must make the proper election to be taxes as US citizens or residents for the entire tax year

11

T/F

A husband and wife can file a joint return even if they were divorced before the end of the tax year

FALSE