25 May Question 1. Which of the following characteristics correctly describes the procedure for the ph
Question
1. Which of the following characteristics correctly describes the procedure for the phaseout of exemptions?
a. The threshold amounts are different and depend on filing status (e.g., joint return, single).
b. The threshold amounts are indexed for inflation each year.
c. The phaseout procedure is known as a “stealth tax.”
d. For the phaseout procedure to be applied, a taxpayer’s AGI must exceed the threshold amount.
e. All of the above.
2. Regarding the rules applicable to filing of income tax returns, which, if any, of the following is an incorrect statement:
a. Married persons who file joint returns cannot later (after the due date of the return) substitute separate returns.
b. Married persons who file separate returns can later (after the due date of the return) substitute a joint return.
c. The usual test as to when a taxpayer must file a return is based on the total of the following: personal exemption + basic standard deduction + both additional standard deductions.
d. Special filing requirement rules exist for taxpayers who are claimed as dependents of another.
e. None of the above.
.
3. Kyle, whose wife died in December 2011, filed a joint tax return for 2011. He did notremarry, but has continued to maintain his home in which his two dependent children live. What is Kyle’s filing status as to 2014?
a. Head of household.
b. Surviving spouse.
c. Single.
d. Married filing separately.
e. None of the above.
.
4. Emily, whose husband died in December 2013, maintains a household in which her dependent mother lives. Which (if any) of the following is her filing status for the tax year 2014? (Note: Emily is the executor of her husband’s estate.)
a. Single.
b. Married, filing separately.
c. Surviving spouse.
d. Head of household.
e. Married, filing jointly.
5. Which of the following taxpayers may file as a head of household in 2014?
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