Individual: Filing Status Flashcards
Explain the phrase “half and whole” in regards to the filing status of Qualifying Widower.
To be a qualified widower, the taxpayer needs to provide more than half of the support of a dependent child, adopted child, or stepchild, for the whole year. (Half the support for the whole year, “half and whole”)
Who long can a taxpayer enjoy the benefits of the status of qualified widower?
The taxpayer can file as a qualified widower for the next 2 years after the death of their spouse
*the advantage here is that a single person (essentially) is getting a standard deduction of 24,000 instead of 12,000
Explain the phrase “half and half, all American” in regards to the filing status of head of household.
To qualify as HoH, the taxpayer needs to be legally separated for the last half of the year and provide the principal residence to a dependent child, parent, or relative, for more than half the year, and be fully American (can’t be a nonresident alien). (Half the year separated, half the year principal resident, fully American)
