Regarding Head of Household Filing Status, Comment on the Following

question 27

Essay

Regarding head of household filing status, comment on the following:
a. A taxpayer qualifies even though he maintains a household which he and the dependent do not share.
a. If the household is that of a dependent parent, it need not be taxpayer's household.
b. A taxpayer does not qualify even though the person sharing the household is a dependent.
c. The usual eventual filing status of a surviving spouse.

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Definitions:

Depreciation Expense

The allocated portion of the cost of a tangible fixed asset that is charged as an expense in a reporting period, reflecting the usage and wear and tear of the asset.

Accumulated Depreciation

The total amount of a tangible asset's cost that has been expensed to depreciation over the asset's useful life, reflecting how much of the asset's value has been used up.

Consolidation Worksheet

A tool used in preparing consolidated financial statements, allowing a company to adjust and eliminate the transactions among its controlled entities.

Plant

In terms of fixed assets, it refers to the buildings, machinery, equipment, and property used in the operations of a business.