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Enrolled Agent Section 1 > Filing Information - Specifics > Flashcards

Filing Information - Specifics Flashcards

1
Q

What types of “children” meet the relationship test

A

A child, stepchild, foster child, or a descendant of any of them (for example, a grandchild). (Treat a legally adopted child the same as a child.)

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2
Q

What siblings meet the relationship test?

A

A brother, sister, half brother, half sister, stepbrother, or stepsister.

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3
Q

What in-laws meet the dependency relationship test?

A

A son-in-law, daughter-in-law, father-in-law, mother-in-law, brother-in-law, or sister-in-law

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4
Q

Which precedents meet the dependency relationship test?

A

A father, mother, grandparent, or other direct ancestor, but not foster parent.
A stepfather or stepmother.
A son or daughter of the taxpayer’s brother or sister.
A brother or sister of the taxpayer’s father or mother

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5
Q

Which precedents meet the dependency relationship test?

A

A father, mother, grandparent, or other direct ancestor, but not foster parent.
A stepfather or stepmother.
A son or daughter of the taxpayer’s brother or sister.
A brother or sister of the taxpayer’s father or mother

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6
Q

What is the amount a person can make to be a dependent as a qualifying relative?

A

The person’s gross income for 2017 must be less than $4050 (personal exemption amount)

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7
Q

What is the 2017 filing threshold for a single taxpayer younger than 65?

A

$10,400 ($4,050 personal exemption + $6,350 standard deduction)

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8
Q

What is the 2017 filing threshold for a single taxpayer 65 or older?

A

$11,950 ( $4,050 personal exemption + $6,350 standard deduction =$ 1,550 over 65 deduction

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9
Q

What is the 2017 filing threshold for a single taxpayer 65 or older?

A

$11,950 ( $4,050 personal exemption + $6,350 standard deduction =$ 1,550 65 and over deduction)

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10
Q

What is the filing threshold for MFJ younger than 65 (both spouses)

A

$20,800 ($4,050 personal exemption (x2), + $6,350 standard deduction (x2))

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11
Q

What is the filing threshold for MFJ younger than 65 (one spouse)

A

$22,050 ($4,050 personal exemption (x2) + $6,350 standard deduction (x2) +65 and over deduction $1,250 (x1)

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12
Q

What is the filing threshold for MFJ 65 or older (both spouses)

A

$23,300 ($4,050 personal exemption (x2) + $6,350 standard deduction (x2) + 65 and over deduction $1,250 (x2)

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13
Q

What is the filing threshold for MFS (any age)

A

$4050 (equal to personal exemption)

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14
Q

What is the filing threshold for Head of Household younger than 65?

A

$13,400 ($4,050 personal exemption + $9,350 standard deduction)

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15
Q

What is the filing threshold for Head of Household 65 and older?

A

$14,950 ($4,050 personal exemption +$9,350 standard deduction + 1,550 65 and over deduction)

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16
Q

What is the filing threshold for a Qualifying Widow(er) younger than with a dependent child?

A

$16,750 ($4,050 personal exemption, + $12,700 standard deduction)

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17
Q

What is the filing threshold for a Qualifying Widow(er) 65 or older with a dependent child?

A

$18,000 ($$4,050 personal exemption, + $12,700 standard deduction + $1,250, 65 and over deduction)

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18
Q

A single depended under 65 and not blind must file a return if unearned income was how much?

A

More than $1,050

19
Q

A single depended under 65 and not blind must file a return if earned income was more than

A

$6,350 (single standard deduction)

20
Q

A single depended under 65 and not blind must file a return if your gross income was more than the larger of ____ or your earned income up to ______ plus _____.

A

the larger of $1, 050 or up to $6,000 plus $350

21
Q

A single dependent either 65 and older OR blind must file a return if unearned income was how much?

A

$2,600

22
Q

A single dependent either 65 and older AND blind must file a return if unearned income was how much?

A

$4,150

23
Q

A single dependent either 65 and older OR blind must file a return if EARNED income was how much?

A

$7,900 ( $6,350 personal exemption + $1,550 over 65 or blind deduction)

24
Q

A single dependent either 65 and older AND blind must file a return if EARNED income was how much?

A

$9,450 ($6,350 personal exemption +$1,550 over 65 + $1,550 blind)

25
Q

A single dependent either 65 and older OR blind must file a return if GROSS income was how much?

A

$2,600 (combined earned and unearned) ?

26
Q

A single dependent either 65 and older AND blind must file a return if GROSS income was how much?

A

$4,150

27
Q

A single dependent either 65 and older OR blind must file a return if earned income up to ______ plus ____.

A

$6,000 plus $1,900

28
Q

A single dependent either 65 and older AND blind must file a return if earned income up to $_____ plus _____

A

$6,000 plus $3,450 (get clarification)

29
Q

Parents can elect to include child’s income on the parent’s return (Form 8814) when a child’s ONLY income is ____, ______, or ______. If making this election, the child doe not have to file the return. (must meet other income and relationship tests)

A

interest, dividends, or capital gain distributions.

30
Q

For a parent to file Form 8814 the child at the end of the year must be younger than age ____ or a full-time student younger than ____.

A

19 and 24

31
Q

For a parent to file Form 8814 the child mus have gross income of LESS than _____ in 2017.

A

$10,500

32
Q

A tax payer must file a tax return if ____ taxes are owed, or certain ____ must be recaptured.

A

Special taxes are owed, or certain credits must be recaptured.

33
Q

A tax payer must file a tax return if wages are $______ or more from a church or qualified church-controlled organization that is exempt from employer social security and medicare taxes.

A

$108,28

34
Q

A qualifying person for HOH filing status must be a qualifying _____ or qualifying ____.

A

child or relative.

35
Q

A qualifying relative must be a member of________ (not merely a member of the household) in order to be a qualifying person for head of household status.

A

the taxpayer’s family.

36
Q

True or False. The custodial parent may claim a child as a qualifying person for head of household filing status even if the other parent claims an exemption for that child.

A

True.

37
Q

The custodial parent is the parent with whom the child lived for the greater number of ______ during the year.

A

nights.

38
Q

What credits can a non-custodial parent claim NOT claim ?

A
  • Credit for Child and dependent care credit
  • Exclusion for dependent care benefits
  • The EIC
  • Heath coverage tax credit.
39
Q

What credits CAN NOT be taken if filing MFS

A 
Dependent Care Expenses
Income exclusion for dependent care benefits
Earned Income Credit 
Adoption Expenses
Lifetime Learning or American Opportunity
Student Loan Interest
Tuition and Fees Deduction 
US Savings Bond interest exclusion
40
Q

If a MFS Taxpayer lived with a spouse at any time during the tax year, the following conditions apply:

A
  1. Cannot claim the credit for the elderly or the disabled (65 or blind)
  2. Must include in income (up to 85%) of any Social Security the taxpayer received.
41
Q

Personal exemptions and Dependent Exemptions begin phasing out at what income level for MFS?

A

$156,900

42
Q

Personal exemptions and Dependent Exemptions begin phasing out at what income level for MFJ?

A

$313,800

43
Q

Personal exemptions and Dependent Exemptions begin phasing out at what income level for QW?

A

$313,800

44
Q

Personal exemptions and Dependent Exemptions begin phasing out at what income level for HOH?

A

$287,650

Enrolled Agent Section 1 (5 decks)

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