Question

What will be the income limitation for a widow filing as a married couple and is...

What will be the income limitation for a widow filing as a married couple and is it allowed for a widow to file as married?

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1
  • A widow can file as married filing jointly or married filing separately in the year of death of the spouse.
  • The income of a deceased person is liable to federal tax in the year of death.
  • Hence, for married filing jointly, return must include income of both the spouses.
  • Qualifying widow status is a special tax status that a widow can file for two years subsequent to the year of death of the spouse.
  • The married filing jointly and qualifying widow status have the same tax slab and the same tax rates.
  • The married filing jointly and qualifying widow status also have the same standard deduction which is greater than any other tax status.
  • The income limitation for a widow filing as a married couple will be the same as married filing jointly in the year of death of the spouse.
  • A widow can still use the married filing jointly status in the year of death of the spouse.
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Rates for a married taxpayer filing separately are 10% of taxable income up to $8,375 and...
Rates for a married taxpayer filing separately are 10% of taxable income up to $8,375 and 15% thereafter up to $34,000. Rates for a couple filing a joint return are 10% of taxable income up to $16,750 and 15% thereafter up to $68,000. Miller and Laura Collins are figuring their tax both ways for comparison before deciding which way to file. Miller earned $20,000 and Laura earned $40,000. The standard deduction for a married couple filing jointly is $11,400. The...
Calculate exact tax liability for 2014 for John and Marie, a married couple, filing jointly with...
Calculate exact tax liability for 2014 for John and Marie, a married couple, filing jointly with $275000 of taxable income
Which of the following filing statuses is different for tax year 2017? Single. Married filing separately....
Which of the following filing statuses is different for tax year 2017? Single. Married filing separately. Head of household. Qualifying widow(er).
J and K are a married couple filing jointly, with two children age 14 and 18....
J and K are a married couple filing jointly, with two children age 14 and 18. They have adjusted gross income of $417,250 for 2018. How much is their allowable child tax credit?             a.     $1,638             b.     $2,000             c.     $1,100             d.     $1,600             e.     $2,500
Taxpayer and Spouse are a married couple filing a joint return and claiming the standard deduction....
Taxpayer and Spouse are a married couple filing a joint return and claiming the standard deduction. The couple have the following two dependents. During 2019, the couple earned salary of $4430,000 and interest on corporate bonds of $12,000. Determine the total amount of Child Tax Credit and Credit for Other Dependents to which Taxpayer is entitled for the year. Child 1, age 8 at 12/31/19 Child 2, age 17 at 12/31/19
A person is Filing taxes as "Married filing Jointly". There taxable income is 141782. They have...
A person is Filing taxes as "Married filing Jointly". There taxable income is 141782. They have 4 personal exemptioons 1.What is the formula to to find the tax amount? 2. What is the tax amount____________? Please use 2016 tax tables and formulas.
In 2017, Lisa and Fred, a married couple, had taxable income of $545,000. If they were...
In 2017, Lisa and Fred, a married couple, had taxable income of $545,000. If they were to file separate tax returns, Lisa would have reported taxable income of $360,000 and Fred would have reported taxable income of $185,000. What is the couple’s marriage penalty or benefit?
For the current year, Brad and Janet, a married couple filing jointly, has a $120,000 long-term...
For the current year, Brad and Janet, a married couple filing jointly, has a $120,000 long-term loss on the sale of qualifying Section 1244 stock, their only capital asset transaction of the year. Their AGI, before the loss, is $300,000. What is their AGI after taking into account the stock loss?
What would be the marginal and average tax rates for a married couple with taxable income...
What would be the marginal and average tax rates for a married couple with taxable income of $90,000? For an unmarried taxpayer with the same income? Use Table 3.7. (Do not round intermediate calculations. Enter the marginal tax rate as a percent rounded to 1 decimal place. Enter the average tax rate as a percent rounded to 1 decimal place.) a. What would be the marginal tax rate for a married couple with income of $90,000? b. What would be...
Ned is filing single. He has taxable income before any QBI deduction of $160.600. Which limitation...
Ned is filing single. He has taxable income before any QBI deduction of $160.600. Which limitation may he be subject to, other than the ordinary taxable income limitation?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT