REG 1 Module 1 Flashcards
1
Q
A Qualifying Widower has to fulfill what requirements?
A
- Must be within two years of death of spouse
- Must provide support for a dependent who lives with them for a whole taxable year
2
Q
Who is a qualifying person for a dependent for a Head of Household?
A
- Qualifying child (lives half of year)
- Father or mother (does’t have to live with taxpayer)
- Dependent Relative (must live with taxpayer)
- Cousin and foster parent doesn’t count
3
Q
What classifies as a personal exemption?
A
-You and your spouse
4
Q
Who is considered a qualifying child?
A
Close Relative Age Limit Residency and filing requirement Eliminate Gross Income test Support Test Changes
5
Q
Who is considered a Qualifying Relative?
A
Support Test
Under the Exemption Amount
Precludes Dependent Filling a Joit Return
Only Citizens or Residents of Mexico, Canada
Relative
Taxpayer Lives with Individual for the Whole Year
6
Q
What do you get when you are 65 years or older or blind?
A
Increased standard deduction NOT additional exemption
