Indicate for Each of the Following the Most Favorable Filing

question 81

Essay

Indicate for each of the following the most favorable filing status for the 2015 tax year.
a.Kenny died on March 2,2014.Marge,his wife,and Bart,their son,survive.Marge filed a joint return in 2014.Bart,age 18 in 2015,is a part-time college student and continues to live at home with his mother.He works part-time,earning $6,200.What is Marge's filing status in 2015?
b.Alan Spaulding is single and provides over 50% support of his niece Alicia who lives with him all year long.Alan maintains the household and claims Alicia as a dependent.Alicia makes $3,600 at a part-time job.She is a full-time student,age 18.What is Alan's filing status?
c.Lily,who was divorced on July 27,2014,provides 100% of the support for her parents who live in a nursing home in Kansas and have no income.What is Lily's filing status?
d.Holly was abandoned by her husband Fletcher in September of the current year.She has not seen or communicated with him since then.What is Holly's filing status?
e.Rick,whose wife died in December 2012,filed a joint tax return for 2012.He did not remarry,but has continued to maintain his home in which his two dependent children live.What is Rick's filing status for 2015?

Grasp the concept of annuity payments, including their tax treatment and calculation of taxable amounts.

Recognize the different phases of a retirement plan and their tax implications.

Analyze the tax consequences related to qualified pension plans and contributions.

Understand the limits and regulations for contributions to different retirement plans such as IRA, Keogh, and 401(k) plans.

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Definitions:

Report

A detailed account or statement describing the results of an investigation, study, or assessment, often used in professional or academic contexts.

Cognitive Domain

An area of mental processes related to knowledge, understanding, reasoning, and intellectual development.

Trainee

An individual undergoing training in a particular field or job in order to gain the skills and knowledge necessary for competent performance.

Logical Fallacy

False reasoning that occurs when someone attempts to persuade without adequate evidence or with arguments that are irrelevant or inappropriate.