week 8 - Axia College Material Appendix H Tax Return...

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Axia College Material Appendix H Tax Return Worksheet Directions: Review Gloria Ramsay’s tax return. Answer the following questions based on the information listed in her return. 1. Even though Gloria is single, her filing status is Head of Household. Why is Gloria able to file as head of household? If no one else lives in the home and can claim head of household she is qualified. 2.How does Gloria benefit from filing as head of household, rather than single? I believe you get an increase in your return as being the person in the household that does all the financial caregiving. 3. What is Gloria’s adjusted gross income? $22,275 4.Which line in the tax form did you find her total income? Line 15 is the total income 5. Even though Gloria is filing the short form (1040A), she is still able to get three credits. What are the three credits Gloria receives? List the line you found the answers on as well. 1.Child Tax Credit 2. Child Care expense credit 3. Student loan credit
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This note was uploaded on 04/26/2011 for the course ECON 101 taught by Professor Smith during the Spring '11 term at University of Phoenix.

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week 8 - Axia College Material Appendix H Tax Return...

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