What is Nellie's filing status for the year?
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Nellie Fox maintains her home in which she and her daughter reside. The daughter does not qualify as Nellie's dependent. Nellie's husband died the previous year. What is Nellie's filing status for the year?
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- Bert Baker and Ernestine Moffet were never formally married but have lived together as husband and wife for the last 14 years. Bert and Ernestine reside in Washington, D.C., a jurisdiction that recognizes common law marriages as valid. Consequently, they filed both a joint district income tax return and a joint federal income tax return for the last eight years. Bert and Ernestine are planning to move their household to Frederick, Maryland, and become permanent residents of that state. Maryland doesn’t recognize common law marriages. Will Bert and Ernestine’s change in residence allow them to avoid the marriage penalty by filing as single individuals?Albert and Avery, ages 66 and 64, respectively, filed a joint return for 2023. They provided all of the support for their 19-year-old son, who is blind and had no gross income. They also provided the total support of Avery's father, who is a citizen and life-long resident of Peru. What is the amount of credit for other dependents that Albert and Avery can claim?Rodney is 67, is filing as single. He is diagnosed legally blind. What amount of standard deduction does Rodney qualify for on his 2023 return?
- At the time of his death on July 9, Aiden held rights in the following real estate: The apartment building was purchased by Chloe, Aiden’s mother, and is owned in a joint tenancy with her. The tree farm and pastureland were gifts from Chloe to Aiden and his two sisters. The tree farm is held in joint tenancy, and the pastureland is owned as tenants in common. Aiden purchased the residence and owns it with his wife as tenants by the entirety. How much is included in Aiden’s gross estate based on the following assumptions? Aiden dies first and is survived by Chloe, his sisters, and his wife. Aiden dies after Chloe, but before his sisters and his wife.At the time of his death on July 9, Aiden held rights in the following real estate: The apartment building was purchased by Chloe, Aiden’s mother, and is owned in a joint tenancy with her. The tree farm and pastureland were gifts from Chloe to Aiden and his two sisters. The tree farm is held in joint tenancy, and the pastureland is owned as tenants in common. Aiden purchased the residence and owns it with his wife as tenants by the entirety. How much is included in Aiden’s gross estate based on the following assumptions? 3. Aiden dies after Chloe and his sisters, but before his wife. 4. Aiden dies last (i.e., he survives Chloe, his sisters, and his wife).Jeff is a single taxpayer who sold his home when he was transferred from NY to Denver by hisemployer. He purchased the home on January 10, 2013. He was sent by his company for temporaryassignment to Detroit on February 1, 2016, that lasted for longer and was gone for 16 months in2016 and 2017, during which time he rented out his home. He moved back into the home on June 3,2017. He sold the home on March 15, 2020. Jeff can claim an exclusion of gain on the sale up to:Select one:a. $500,000b. $300,000c. $250,000d. $0
- 47- Scott is 15 years old and qualifies as a dependent of his parents. During 2019 he earns $2,500 from a part-time job and also receives $800 of dividend income on stock given to him by his aunt. What is Scott’s taxable income?Which statement describes a technique used to address the issue of ensuring the payment of adequate child support by a noncustodial parent when the parents of minor children are divorced? A) A provision in the noncustodial parent's will leaving property to the minor will solve this concern. B) To ensure that child support payments are continued if the noncustodial parent dies or becomes disabled before such payments are to cease, the parents must enter into a nuptial agreement. C) An irrevocable trust established and funded by the noncustodial parent to ensure payment of child support can be a valuable tool to protect such assets from the claims of future creditors of the noncustodial parent. D) Insurance on the life of the noncustodial parent must be owned by an irrevocable life insurance trust to prevent the noncustodial parent from changing the beneficiary.Harry is divorced from Kate. Pursuant the divorce decree, they alternate years claiming their son Frank as a dependent. For 2021 Kate released Frank's dependency exemption to Harry. Harry filed his 2021 return using the single filing status and reported agi of 62000. Which of the following is true regarding Harry's 2021 recovery rebate credit?
- Mark (age 55 in 2020) and his late wife, Mary, were married in 1990. Mark and Mary have a son, Matt, who was born in 2009. Mary passed away on October 4, 2020. Mark has not remarried. Mark maintained a household for Matt, his dependent child (qualifying child), for all of 2020 & 2021. What allowable filing status would be most beneficial for Mark to use in 2020?18 Sandy is seeking child support under the Divorce Act from her former husband, Raymond. Her daughter, Kalia is a normal healthy child who attends daycare while Sandy works. Sandy hopes that the court will order an amount in addition to the basic amount to help her defray some of her unique expenses. Which of the following purchases or expenses may result in Raymond having to pay an amount greater than the basic amount under the federal Child Support Guidelines? a) expenses for Kalia's daycare b) Kalia's new clothes c) the loan on Sandy's new car, which has a built-in car seat for Kalia Od) the child-sized, electric Barbie-mobile that Sandy bought for Kalia's third birthdayIn 2001, Heather created a trust with income to her partner Gina for life, remainder to her daughter, Sonia, if living, and if Sonia is not living then to Heather if Heather is living, and if Heather is not living, then to granddaughter Beth or Beth's estate. In 2011, while all parties remain alive, Heather transfers her contingent interest to Beth, relinquishing all rights and interest in the property. In 2013, Heather dies, predeceasing Gina, Sonia, and Beth. What are Heather's estate tax consequences, if any? No Inclusion Inclusion in Grantor's gross estate pursuant to 2033 Inclusion in Grantor's gross estate pursuant to 2035 Inclusion in Grantor's gross estate pursuant to 2036 Inclusion in Grantor's gross estate pursuant to 2037 Inclusion in Grantor's gross estate pursuant to 2038