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Marcus is a 51 year old widower whose wife died in 2017. During 2018, his 16 year old dependent son lived with him for the
Marcus is a 51 year old widower whose wife died in 2017. During 2018, his 16 year old dependent | ||||||||
son lived with him for the entire tax year. Marcus's 2018 income consists of salary of $91,000 and | ||||||||
interest income of $19,400. He lives in a state that does not have a state income tax. During the year | ||||||||
He paid home mortgage interest expense of $21,000 and real estate taxes of $6,200. He also | ||||||||
contributed $10,000 in cash to various charities in his community. These are his only itemized | ||||||||
deductions during 2018. |
A)What filing status applies to Marcus for 2018? |
B)Compute Marcus's 2018 taxable income and gross tax. |
C)What would Marcus's 2018 filing status be if his wife has been dead for three years? |
D)Assume that Marcus's son is age 24. He is married and does not qualify as a dependent. | |||||||
The son and his wife do not live with Marcus. What is Marcus's 2017 filing status in this situation? |
E)Compute Marcus's 2018 taxable income and tax considering the information in part d. |
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