SWFT Individual Income Taxes
43rd Edition
ISBN: 9780357391365
Author: YOUNG
Publisher: Cengage
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3. Hank is single. He covers all of the expenses of his home in which his brother Pete lives. Pete is claimed as a dependent by Pete’s father Tony. Can Hank file as “head of household?” Would your answer differ if Hank could claim Pete as his dependent?
During the current year, Freda was entirely supported by her three children, Michelle, Brian, and John, who provided support in the following percentages:
Michelle 43%
John 48%
Brian 9%
Which of the children is entitled to claim their mother as a dependent, assuming a multiple support agreement exists?
Michelle or Brian
Brian or John
Michelle or John
Michelle, Brian, or John
Andy maintains a household that includes a cousin (age 12) a niece (age 18), and a son (age 26).
All are full-tiime students. Andy furnishes all of their support and all are
"members of the household"
How many dependents?
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Mark and Lisa were divorced in 2018. In 2019, Mark has custody of theirchildren, but Lisa provides nearly all of their support. Who is entitled to claim the children as dependents?arrow_forwardGrace provides 52% of the household costs for her widowed mother during the year. Grace claims her mother as a dependent. Can Grace file a return as head of household if her mother does not live with her? Explain the reason for your answer.arrow_forwardDick and Karen are married and live in a community property state. All of their property is also located in this state, except for an undeveloped parcel of land left to Dick by his uncle in a common law state. Dick and Karen have three minor children. Dick and Karen both have wills that leave everything to the survivor, and if there is no survivor, then to the children equally. Each will appoints the other spouse as personal representative (PR). Dick's brother was appointed as guardian of the minor children. Dick's brother has since died. After analyzing Dick and Karen's current estate plan for weaknesses, which one of the following statements is NOT correct? A) Their estates may be subject to their state intestacy statutes to appoint a PR in the event of simultaneous death. B) A guardianship and/or conservatorship proceeding will be necessary for the minor children. C) Dick's estate will require an ancillary probate proceeding. D) The wills are irrelevant…arrow_forward
- her husband didn’t have any income, can i add him as a dependent ?arrow_forwardTrey has two dependents, his daughters, ages 14 and 17, at year-end. Trey files a joint return with his wife. What amount of child credit will Trey be able to claim for his daughters if his AGI is $420,500? Amount of child tax credit= ?arrow_forwardKatie and Rob were married in 2010. Katie and Rob lived together until February 2020, when Katie left Rob to go live with her new boyfriend. Katie and Rob are not divorced or legally separated as of December 31, 2020. Rob has a daughter, Emily, who is a dependent child (qualifying child) of Rob and lived with Rob for all of 2020. Rob paid all costs of maintaining the home for him and Emily for all of 2020. Rob does not know where Katie is, and he would not be able to get Katie to sign anything. What would be the most beneficial filing status that Rob could use for 2020? Assume Rob has taxable income of $300,000.arrow_forward
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