Reg 1 Module 1 Flashcards

Filing Requirements

1
Q

What are requirements to enable a taxpayer to be classified as a Qualifying Widower

A
  1. The taxpayer’s spouse died in one of the two previous years and the taxpayer did no remarry in the current tax year
  2. The taxpayer has a child who can be claimed as a dependent
  3. This child lived in the taxpayer’s home for all of the current tax year
  4. The taxpayer paid over half of the cost of keeping up a home for the child &
  5. the taxpayer could have filed a joint return in the year the spouse died.
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2
Q

What is the Support Test under the Qualifying Child

A

The child must have not provided more that half of their own support

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3
Q

What is the Support Test for the Qualifying Relative

A

The relative must have not provided more that half of their own support

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4
Q

What is the Under Gross Income Limitation for a Qualifying Relative & what does Non Taxable income include:

A

Has to be < than 4,150 (2018)

Non Taxable Income:
- Social Security 
- Tax-Exempt Interest 
  Income ( state and 
  municipal interest income) 
- Tax-Exempt Scholarships
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5
Q

What is the Precludes Dependent Filing A Joint Return Include for a Qualifying Relative

A

Does not qualify if the relative a dependent MFJ, unless no tax liability exists on both spouses.

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6
Q

Qualifying Relative Vs. Qualifying Non-Relative: What is the support and Live in Rule

A

For qualifying relative only to maintain half of the support.

For qualifying non-relative, to maintain more than half of the support and has to live with the taxpayer the whole year. EI, cousins and foster parents.

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7
Q

What is the age limit for Qualifying Child?

A

To be under the age of 19.

19-24 if child is in school full time.

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8
Q

What kind of income does not count have supportive income under the qualifying child rules for college students.

A

Scholarship Money.

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