Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which of the following will prevent a couple from qualifying for the status of married, filing jointly, in 2020? I. One spouse dies on

Which of the following will prevent a couple from qualifying for the status of married, filing jointly, in2020?a.I. One sp


Paul, age 40 and single, has an 8-year-old son, Larry. Larry resides with his mother, Susan, in her home.Pursuant to the ter



Ariel has two children, Christopher and Pat. Christopher is 25 years old and Pat is 22. Christopher is afull-time student at



Larry is a self-employed insurance salesperson. He decides to take his best customer to a Pacersbasketball game. Larry is ab  
 
 

Which of the following will prevent a couple from qualifying for the status of married, filing jointly, in 2020? I. One spouse dies on June 6, 2020. II. The couple is legally married but is living apart throughout the year. Oa. Only statement I is correct. Ob. Only statement II is correct. Oc. Both statements are correct. Od. Neither statement is correct. Paul, age 40 and single, has an 8-year-old son, Larry. Larry resides with his mother, Susan, in her home. Pursuant to the terms of their divorce, Paul properly claims Larry as a dependent on his income tax return. Paul pays child support payments to his ex-wife for the support of his child. Susan does not claim Larry as her dependent, but she does bear the economic burden of supporting the household in which they reside. What is the maximum amount of the 2020 standard deduction that Susan qualifies for? Oa. $12,400 Ob. $18,650 Oc. $20,300 Od. $24,800 Oe. Susan does not qualify for claiming a standard deduction. Ariel has two children, Christopher and Pat. Christopher is 25 years old and Pat is 22. Christopher is a full-time student at Southern College, has a full tuition scholarship, and lives at school during the year. Pat works full-time and lives at home. Which test will prevent both Pat and Christopher from being qualifying children of Ariel? O a. The gross income test b. The relationship test Oc. The non-support test Od. The principal residence test Oe. The age test Larry is a self-employed insurance salesperson. He decides to take his best customer to a Pacers basketball game. Larry is able to buy two floor seat tickets for $500 each. The face amount of the tickets is $200 each. How much of the total cost can Larry deduct? O a. S-0- Ob. $400 c. $200 Od. $500 Oe. $1,000

Step by Step Solution

3.44 Rating (157 Votes )

There are 3 Steps involved in it

Step: 1

c Both statements are correct Both statements will prevent a couple from qual... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516

More Books

Students also viewed these General Management questions