Individual Taxation: Filing Requirements Flashcards
What are the different filing statuses?
(1) single (S)
(2) married filing jointly (MFJ)
(3) married filing separately (MFS)
(4) surviving spouse (SS)
(5) head of household (HH)
Which taxpayers qualify as having single status?
Any taxpayer who is not married or a head of household
This includes legally separated spouses, if they are not heads of household
What are the qualifications for taxpayers to elect MFJ status?
(1) married (and not legally separated) at year-end
- if the spouse died mid-year and the other did not remarry, he or she still qualifies
(2) neither spouse was a nonresident alien during the year
- if one spouse was, they can still can have MFJ status if they consent to have their joint worldwide income taxed
(3) both spouses’ tax years coincide
(4) both spouses’ signatures are included
How does MFS status differ from MFJ status?
Each spouse must fill out a different return
In community property states, each spouse receives half of income, deductions, exemptions, and credits
When might a surviving spouse be permitted to use MFJ status for two years following the death of the other spouse?
If (a) he remains unmarried, (b) he pays over 50% for a household, (c) and that household is a qualifying child’s principal residence the whole year, then MFJ status can be elected for two years
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What are ordinarily the qualifications for taxpayers to elect HH status?
(1) taxpayer is not married or a surviving spouse
(2) he pays over 50% for a household
(3) that household is the principal residence for over half the year for a dependent
Exception: a dependent who is (a) unrelated or (b) dependent via a multiple support agreement does not count
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What are two other scenarios where taxpayers can elect HH status?
(1) A married taxpayer living separately from his spouse without a qualifying child dependent can still elect it if he otherwise qualifies
(2) A taxpayer whose parent can be claimed as a dependent, even if the parent doesn’t live with him
What is the general rule for who must file a tax return?
Anyone whose income exceeds the sum of his personal exemption and his standard deduction must file
Outside the general rule, who else must file a tax return?
(1) anyone with self-employed earnings of $400
(2) a dependent with some unearned income and a gross income of $950
(3) whoever receives advance payments of an earned income credit
(4) married individuals who file separately, if their income exceeds their personal exemption
