exercises_ty_2019_without_answers.docx - Exercises For these exercises assume that everyone is a U.S citizen and has a valid social security number

exercises_ty_2019_without_answers.docx - Exercises For...

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Exercises For these exercises assume that everyone is a U.S. citizen and has a valid social security number, unless otherwise stated in the exercise. 1. Susan is unmarried and her two minor children lived with her all year. She had a small part- time job and made $10,880. Susan received state/federal public assistance to help with most (80%) of her household expenses. A. Is Susan required to file? If not, should she file? Reference: Publication 4012, pages A-1, A-3 B. What is Susan’s filing status? Reference: Publication 4012, page B-8 C. Can Susan claim her children as dependents? Reference: Publication 4012, pages C-1, C-3 Revised 12/3/2019 Page 1 of 20
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2. William is a 19 year-old full-time university student. His parents pay the rent and utilities on his apartment. He has a few small scholarships but his parents pay most of his tuition. William has a part-time job and earned $5,500 last year. He checked unsure on the question can anyone claim you on their tax return. A. Does William have to file a tax return? Reference: Publication 4012, page A-2 B. Can he claim himself on his return? Reference: Publication 4012, pages C-1, C-3 Revised 12/3/2019 Page 2 of 20
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3. Nell is 42, unmarried, and earned $52,000 in wages. Her 68-year-old single mother Diane lives in her own apartment across town. Nell provided more than half of her mother’s support and all the cost of keeping up her mother’s home. Diane’s only income is $7,000 in Social Security Benefits, none of which are taxable. A. Is Diane required to file a return? Reference: Publication 4012, page A-1 B. Can Nell claim her mother as a dependent? Reference: Publication 4012, pages C-1, C-3, C-4, C-5 C. Does Nell qualify for Head of Household filing status? Reference: Publication 4012, page B-8, B-9, B-10 Revised 12/3/2019 Page 3 of 20
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4. Daren and Wendy are married and want to file a joint return. They have one child, Jason, who is 5 years old and lived with them all year. Daren and Wendy live in the U.S. and have ITINs. Jason is a U.S. citizen and has a valid SSN. Daren earned $37,000 in wages and had no other income. Wendy had no income. Daren provided all financial support for Wendy and Jason. A. Can Daren and Wendy claim EIC for Jason? Reference: Publication 4012, page I-2 B. Can Daren and Wendy claim Jason for the child tax credit (CTC)? Reference: Publication 4012, page G-2 Revised 12/3/2019 Page 4 of 20
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5. Maxine is 66-years-old, married, and has not lived with her husband for over 4 years. She has not seen him for over 2 years and has no idea of where he is currently living. She is supporting her two grandchildren ages 6 and 8 who lived with her for the last 3 years. Maxine is still working full-time and her earnings are reported to her on a W-2. She made $32,500. A. What is Maxine’s filing status? Reference: Publication 4012, page B-8, B-9 B. Can Maxine claim her grandchildren as dependents? Reference: Publication 4012, page C-1 C. For which of the following credits does Maxine qualify?
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  • Spring '18
  • May Marquez
  • Taxation in the United States, Head of Household

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