In October 2019,Joy and Paul Separated and Have Not Lived

question 73

Multiple Choice

In October 2019,Joy and Paul separated and have not lived with each other since,but they are still legally married.They do not file a joint return.Joy supports their children after the separation and pays the cost of maintaining their home.Joy's filing status in 2019 and 2020 is,respectively

• A)single for both years.
• B)head of household and single.
• C)married filing separately for both years.
• D)married filing separately and head of household.

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Definitions:

Interest

The cost of borrowing money, usually expressed as a percentage of the principal, paid by the borrower for the use of borrowed funds.

Rate of Return

The positive or negative change in an investment's worth within a specific period, shown as a percent of the cost of the investment.

Investment Account

A financial account held at a financial institution that holds investments such as stocks, bonds, mutual funds, and other assets for the investor.

Compounding Effect

The method by which an investment's worth grows over time as the returns it generates, including both capital gains and interest, themselves accumulate interest.