Indicate for Each of the Following the Most Favorable Filing

question 59

Essay

Indicate for each of the following the most favorable filing status for the 2013 tax year.
a.Kenny died on March 2,2012.Marge,his wife,and Bart,their son,survive.Marge filed a joint return in 2012.Bart,age 18 in 2013,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 2013?
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 27,2012,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 2010,filed a joint tax return for 2010.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 2013?

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Definitions:

Cost Method

An accounting method where investments are recorded at their acquisition cost.

Journal Entries

The method by which transactions are recorded in the company's accounting records with a debit and credit entry.

Significant Influence

The ability to be involved in the financial and managerial policy decisions of an investment without having controlling authority over those policies.

Fair Value Through Profit or Loss

An accounting approach where financial assets are valued at their current market price, with changes in fair value reported in the profit or loss statement.