Unit 3: Filing Status Flashcards
What are the 5 filing statuses?
- Single
- MFJ
- MFS
- HOH
- Qualifying Widow(er) w/ a dependent child
A taxpayer is considered SINGLE for the entire tax year if, on the last day of the year, they were: (3)
- Unmarried
- Legally separated/divorced, or
- Widowed (and not remarried during the year)
If a marriage is annulled, it is considered ___. They MUST file an ___ claiming ___ (or ___) for all the tax years affected by the annulment that are not closed by the statute of limitations.
Never to have existed.
Amended return (1040X)
Single; HOH
What is the statute of limitations for filing?
3 years after the original return was filed or the date the return was due, whichever is later.
Taxpayers may use the MFJ status if they are married and:
- Live ___
- Live ___ but are not ___
- Are ___ under an interlocutory (not final) divorce decree
- The taxpayer’s spouse ____.
- Together
- Apart; legally separated or divorced
- Separated
- Died during the year and the taxpayer has not remarried
The MFS status is for taxpayers who are married and either:
(1)
(2)
(1) Choose to file separate returns, or
(2) Do not agree to file a joint return.
MFS has special rules, including:
(1) Tax rate is generally ___ than MFJ
(2) The exemption amount for figuring the alternative minimum tax is ___ that allowed on MFJ
(3) Various credits, including EIC are generally ____ or much more ___.
(4) The ___ is limited to ___, half that allowed on MFJ
(5) The ___ is ___ the amount allowed on MFJ and cannot be claimed if the taxpayer’s spouse ___.
(1) Higher
(2) Half
(3) Not allowed; Limited
(4) Capital loss deduction; $1,500
(5) Standard deduction; Half; Itemizes deductions
To change from MFS to MFJ, a taxpayer must:
(1) File ___
(2) Make the change any time within ___ years from ___.
(1) An amended return (1040X)
(2) 3; the due date of the separate returns.
A taxpayer cannot change from MFJ to MFS after ___.
The due date of the return.
The HOH status is for taxpayers who meet ALL three requirements:
(1) Must be __, __, or __ on the last day of the year, or meet the test for ___.
(2) Must have paid ___ the cost of keeping up a home for the year.
(3) Must have had a __ living in his home for __.
(1) Single, Divorced, Legally Separated; Married persons living apart with dependent children
(2) More than half
(3) Qualifying person; More than half
To qualify for HOH, a taxpayer must either be __ or “__” on the last day of the tax year.
Unmarried; “Considered unmarried”
HOH: To be “considered unmarried,” a taxpayer must meet the following conditions:
- File a __ return
- Pay __ the cost of keeping up the home for the tax year
- Not live with his spouse in the home during the last __ of the year
- The home must be the main residence of the __, __, or __ for __.
- Be able to claim an __ for the child
- Separate
- More than half
- Six months
- Qualifying child, stepchild, foster child
- Exemption
HOH: Valid household expenses used to calculate whether a taxpayer is paying more than half the cost of maintaining a home include:
- __,__,___
- __,__,___
- __
- Rent, mortgage interest, property taxes
- Home insurance, repairs utilities
- Food eaten in the house
(Costs do not include clothing, education, medical treatment, vaccines, life insurance or transportation.)
HOH: If a taxpayer’s qualifying person is a dependent PARENT, the taxpayer may still file HOH even if __. The taxpayer must pay __.
The parent doesn’t live with the taxpayer.
More than half the cost of keeping up their parents’ main home for the entire year.
HOH: A taxpayer may still file as HOH if the qualifying individual is __ or __ during the year. The taxpayer must have provided ___.
Born; Dies
More than half the cost of keeping up the individual’s home while they were alive.
