Filing Status Flashcards
What is Filing Status?
Filing status determines the tax rates, benefits, and credits available to a taxpayer. It depends on marital status on the last day of the tax year.
What are the Filing Status Options?
The Filing Status Options are: Single (S), Head of Household (HOH), Married Filing Jointly (MFJ), Married Filing Separately (MFS), and Qualifying Surviving Spouse (QSS).
What is the criteria for Single (S) filing status?
Use this status if you are unmarried or legally separated on the last day of the year and do not qualify for another status.
What are the requirements for Head of Household (HOH) status?
To qualify for HOH, you must be unmarried or considered unmarried, pay more than half the cost of keeping up a home, and have a qualifying person living with you for more than half the year.
Who can be a qualifying person for HOH?
A qualifying person can be a child or relative you can claim as a dependent.
Can divorced or separated parents claim HOH?
Yes, the custodial parent can claim HOH if they meet the requirements, even if the other parent claims the child as a dependent.
What is the criteria for Married Filing Jointly (MFJ)?
You can file jointly if you are married and both agree to file a joint return. You are responsible for taxes together and individually.
What happens if one spouse has no income in MFJ?
Even if one spouse has no income, you can still file jointly.
What is the criteria for Married Filing Separately (MFS)?
Use this status if you are married but want to file separately. It generally results in higher taxes and limits eligibility for credits and deductions.
What are the special rules for MFS?
MFS filers cannot claim the Earned Income Credit, most education credits, or the Child and Dependent Care Credit. The standard deduction is half of what joint filers get.
What is Qualifying Surviving Spouse (QSS)?
Available for two years after a spouse’s death if the taxpayer was eligible to file jointly the year the spouse died, has not remarried, has a child or stepchild living with them, and paid more than half the cost of maintaining a home.
Can you provide an example of QSS?
Jane’s husband passed away in 2023. She files Married Filing Jointly for 2023. For 2024 and 2025, she can use QSS if she meets the requirements.
What is an example of Single filing status?
Amy is unmarried and not eligible for HOH. She files as Single.
What is an example of Head of Household status?
Mark is unmarried, pays more than half the cost of his home, and supports his mother in a care facility. He qualifies for HOH.
What is an example of Married Filing Jointly?
Sarah and John are married. John has no income, but they file a joint return to take advantage of lower tax rates.
