Tax formulat and Tax determination Flashcards
1
Q
Who can’t get the standard deduction?
A
Married individual filing a separate return where either spouse itemizes deductions
Nonresident alien
Individual filing a return for a period of less than 12 months because of a change in the annual accounting period.
Death of an individual doesn’t eliminate them from the standard deduction in the year of death.
2
Q
What are the limitations on the standard deduction for dependents
A
limited to greater of 1,000 or the sum of the individual’s earned income for the year plus 350…. not to exceed the normal standard deduction for individual.
3
Q
Citizenship or residency test
A
must be US citizen, US resident, or resident of Canada or mexico for some part of the calendar year.
