Chapter 1 Homeworlk Problem 119 Filing Status and Tax Comput

Chapter 1 Homeworlk Problem 1-19 Filing Status and Tax Computation (LO 1.5 Maggie is single and supports her R5-year-old parents who have no income rented for them by Maggie What is Maggie\'s filing status? Her filing status is because Problem 1-21 live in a- Filing Status and Tax Computation, Personal and Dependency Exemptioss (LO 1.5,16 Mary is single and supports her 30-year-old son who has income of $2,000 and lives in his ow apartment a. Does her son qualify as her dependent as a \"qualifying child\"? Does her son qualify as her d-. lent as a \"qualifying relative\"? b. Can she claim head of he old filing status? because Problem 1-23 Personal and Dependency Exemptions (LO 1.6) What is the total dollar amount of personal and dependency exemptions which a married couple with one child and $80,000 of adjusted gross income would claim in 2016? Problem 1-12 The Tax Formula for Individuals, Filing Status and Tax Computation, Personal and Dependency Exemptions, The Standard Deduction (LO 1.3, 1.5, 1.6, 1.7) Christine is a single 50-year-old taxpayer with no dependents. Her only income is $40,750 of wages. Calculate her taxable income and her tax liability Table for the standard deduction Filing Status Single Married, filing jointly Married, filing separately Head of household Qualifying widow(er) 2016 Standard Deduction S 6,300 12,600 6,300 9,300 12,600 Use Tax Tables to compute her tax liability Problem 1-28 Tax and the Internet (LO 1.10) Go to the IRS Web site (www.irs.gov/uac Latest-News) Select either \"Yes\" or \"No\" to indicate whether each of the following topics are prominently

Solution

Problem 1-19

Her filing status is Head of Household because she is unmarried and she is paying for more than half the costs to maintain her home and have a qualifying dependent who live in her home.

Question 1-23

The total dollar amount for personal and dependency exemption is $12000( 4000*3).

Question 1-21

a. Her son does not qualify as dependent on her as he lives seperate in his own apartment.

Neither will qualify as dependent relative

b. No she can not claim as head of household status because her son lives apart from her and not in the same house.