Question
Patrick and Polly were married in 2016 and live in a non-community property state. In 2019 Patrick won $125,000 on a lottery ticket and Polly
Patrick and Polly were married in 2016 and live in a non-community property state. In 2019 Patrick won $125,000 on a lottery ticket and Polly won $100,000 in Las Vegas. They have no children or dependents. To save taxes they obtain a quicky divorce, receiving the final decree of divorce on December 29, 2020. Pursuant to their plan they remarried on May 5, 2021. Patrick and Polly will be treated as Single for U.S. income tax purposes for 2020.
True/False?
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For Heintz/parrys College Accounting, Chapters 1-15, 22nd Edition, [instant Access]
Authors: James A. Heintz, Robert W. Parry
22nd Edition
1305669886, 9781305669888
