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Acct 237 class notes general rule individual must

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ACCT 237 – Class NotesGeneral rule: individual must file a tax return if gross income equals or exceeds the applicable standarddeductionProblem 41: Which of the following individuals are required to file a tax return for 2021? Should any of theseindividuals file a return even if filing is not required? Why or why not?
c.Ronald (<19) is a depended child who received $6,800 in wages from a part time job.
e.Quinn (20) is a full-time college student who is claimed as a depended by his parents. For 2021, Quinnhas taxable interest and dividends of $2,500.
Problem 43:In each of the following independent situations, determine Winston’s filing status for 2021. Winstonis not married.a.Winston lives alone, but he maintains a household in which his parents live. The mother qualifies asWinston’s dependent, but the father does not.Since at least one parent is Winston’s dependent, he canfile as head of household.b.Winston lives alone but maintains a household in which his married daughter, Karin, lives. Both Karin andher husband qualify as Winston’s dependents.Winston must file as single.c.Winston maintains a household in which he and a family friend, Ward, live. Ward qualifies as Winston’sdependent.Winston must file as single.d.Winston maintains a household in which he and his mother-in-law live. Winston’s wife died in 2020.

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Term
Summer
Professor
NoProfessor
Tags
Taxation in the United States

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