2-7, 2-39, 2-44, & 3-42

2-7, 2-39, 2-44, & 3-42 - f the earned income credit...

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Name: Saurin Patel Exercise: Course: ACC/483 - Income Tax Accounting Date: 6-Jun-09 I:2-7 a. In general, it is the taxpayer's gross income that determines whether the individual must file a specified gross income amounts. These include taxpayers who receive advance payments of employment income. Dependent individuals must file if they have either (1) unearned income b. Taxpayers who owe no tax because of deductions or other reasons must still file a return if the I:2-39 Form Filing Status Exemptions a. 1040EZ Single 1 b. 1040A Single 1 c. 1040 Head-of-Household 1 d. 1040A Single 1 e. 1040A Head-of-Household 2 I:2-44 a. Yes b. No. The aunt would have to live with the taxpayer. c. No. She qualifies for the more favorable surviving spouse status, she cannot file as head-of-h d. Yes. He qualifies as an abandoned spouse so he can file as a head-of-household.
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return. Certain individuals must file even if they have less than the
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Unformatted text preview: f the earned income credit and taxpayers with $400 or more of self-e over $850 or (2) total gross income in excess of the standard deduction. ey have gross income in excess of the filing requirement amounts. Child Credit 1 ousehold. Name: Saurin Patel Exercise: I:3-42 Course: ACC/483 - Income Tax Accounting Date: 6-Jun-09 I:3-42 In addition to the regular rental income from the apartment and health club Ed must include $2,6 lease cancellation payment of $1,000, the first month's rent of $800, and the last month's rent of is no reduction in rent, Ed does not need to include the value of the swimming pool in gross inco 600 in gross income. The gross income consists of the f $800. The security deposit is not taxable. Since there me....
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2-7, 2-39, 2-44, & 3-42 - f the earned income credit...

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