A Legally Divorced Taxpayer Maintains a Household for Himself and Maintains

question 54

Multiple Choice

A legally divorced taxpayer maintains a household for himself and maintains a separate household that is the principal place of abode of his dependent widowed mother. What filing status should he use when filing his tax return?

• A) Married Filing Separately.
• B) Single.
• C) Qualifying widow(er).
• D)Head of HouseholD.The taxpayer's parents can live in a separate household.

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Definitions:

Borrow Money

Borrowing money involves receiving funds from another party, usually a bank or financial institution, under the agreement to pay back the principal amount along with interest over a set period.

Selling Prices

The amount of money charged for a product or service, or the sum the consumer must pay to acquire the product.

Stockholders' Value

The financial value that shareholders possess within a company, determined by the market price of the company's shares.

Bonuses

Additional compensation given to employees as a reward for their performance, often based on achieving certain targets or goals.