Question

17. What formula is used to determine the filing requirement based on gross income received? 18....

17. What formula is used to determine the filing requirement based on gross income received?

18. What requirements must be met to claim head of household filing status?

19. Compare and contrast deductions for AGI and deductions from AGI.

20. What are the income limitations applied to a potential dependent when determining whether that individual can be claimed as a dependent?

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Answer #1

17. The formula for deciding the filing requirements:

a. for a single who is less than 65 years old his gross income should be $ 10400

b. for a single who is older than 65 years old his gross income should be $ 11950

c. For married couples age is not a consideration if they are filing separately-$4050

d. If a person is a qualified widower and also has a child dependent on him and he is less than 65 years of age=$16750

e. if it is for the head of the household and that person is less than 65 years of age it is -#13400

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