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Exam 9: Individuals As the Taxpayer

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Question 61

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Kyle,whose wife died in December 2012,filed a joint tax return for 2012.He did not remarry,but has continued to maintain his home in which his two dependent children live.What is Kyle's filing status as to 2015?

A) Head of household
B) Surviving spouse
C) Single
D) Married filing separately
E) None of these

F) D) and E)
G) A) and B)

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Question 62

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Under the Federal income tax formula for individuals,a choice must be made between claiming deductions for AGI and itemized deductions.

A) True
B) False

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Question 63

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Darren,age 20 and not disabled,earns $4,000 during 2015.Darren's parents cannot claim him as a dependent unless he is a full-time student.

Dan and Donna are husband and wife and file separate returns for the year.If Dan itemizes his deductions from AGI,Donna cannot claim the standard deduction.

A child who is married cannot be subject to the kiddie tax.

An increase in a taxpayer's AGI could decrease the amount of charitable contribution that can be claimed.

In which,if any,of the following situations may the individual not be claimed as a dependent of the taxpayer?

Under the Federal income tax formula for individuals,the determination of adjusted gross income (AGI)precedes that of taxable income (TI).

Adjusted gross income (AGI)appears at the bottom of page 1 and at the top of page 2 of Form 1040.

Which,if any,of the following is a deduction for AGI?

Derek,age 46,is a surviving spouse.If he has itemized deductions of $12,900 for 2015,Derek should not claim the standard deduction.

Evan and Eileen Carter are husband and wife and file a joint return for 2015.Both are under 65 years of age.They provide more than half of the support of their daughter,Pamela (age 25) ,who is a full-time medical student.Pamela receives a $5,000 scholarship covering her tuition at college.They furnish all of the support of Belinda (Evan's grandmother) ,who is age 80 and lives in a nursing home.They also support Peggy (age 66) ,who is a friend of the family and lives with them.How many dependency exemptions may the Carters claim?

Emily,whose husband died in December 2014,maintains a household in which her dependent mother lives.Which (if any) of the following is her filing status for the tax year 2015? (Note: Emily is the executor of her husband's estate. )

Which,if any,of the following is a deduction for AGI?

In terms of income tax consequences,abandoned spouses are treated the same way as married persons filing separate returns.

Debby,age 18,is claimed as a dependent by her mother.During 2015,she earned $1,100 in interest income on a savings account.Debby's standard deduction is $1,450 ($1,100 + $350).

In applying the gross income test in the case of dependents that are married,could the application of community property laws have any effect? Explain.

Sylvia,age 17,is claimed by her parents as a dependent.During 2015,she had interest income from a bank savings account of $2,000 and income from a part-time job of $4,200.Sylvia's taxable income is:

In terms of the tax formula applicable to individual taxpayers,which,if any,of the following statements is correct?

In resolving qualified child status for dependency exemption purposes,why are tiebreaker rules necessary? Can these rules be waived?