A)If a married couple files separate returns, both must claim the standard deduction (rather than itemize their below-the-line deductions).
A)If a married couple files separate returns, both must claim the standard deduction (rather than itemize their below-the-line deductions).
Chapter1: The Individual Income Tax Return
Section: Chapter Questions
Problem 6P: Ulysses and Penelope are married and file separate returns for 2019. Penelope itemizes her...
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A)If a married couple files separate returns, both must claim the standard deduction (rather than itemize their below-the-line deductions).
B) Grace, age 16, is claimed as a dependent by her grandfather. During 2021, she had City of Baltimore bonds of $2,000 and earnings from cat-sitting of $400. Calculate her taxable income. You do not need to include the dollar sign, commas, or cents in your answer.
C) In terms of income tax consequences, abandoned spouses who do not have children are treated the same way as married persons filing separate returns.
T OR F?
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