McGraw-Hill's Taxation of Individuals and Business Entities 2019 Edition
1st Edition
ISBN: 9781259918391
Author: Professor, Brian C. Spilker
Publisher: McGraw-Hill Education
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 4, Problem 22DQ
To determine
Determine whether Person I can claim Person H as a dependent for tax purposes.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
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?
Grace 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.
her husband didn’t have any income, can i add him as a dependent ?
Chapter 4 Solutions
McGraw-Hill's Taxation of Individuals and Business Entities 2019 Edition
Ch. 4 - How are realized income, gross income, and taxable...Ch. 4 - Prob. 2DQCh. 4 - Prob. 3DQCh. 4 - Why should a taxpayer be interested in the...Ch. 4 - Is it easier to describe what a capital asset is...Ch. 4 - Prob. 6DQCh. 4 - Prob. 7DQCh. 4 - Prob. 8DQCh. 4 - Prob. 9DQCh. 4 - How do taxpayers determine whether they should...
Ch. 4 - Prob. 11DQCh. 4 - Prob. 12DQCh. 4 - Prob. 13DQCh. 4 - Prob. 14DQCh. 4 - Prob. 15DQCh. 4 - Prob. 16DQCh. 4 - Prob. 17DQCh. 4 - Prob. 18DQCh. 4 - Prob. 19DQCh. 4 - Prob. 20DQCh. 4 - How do two taxpayers determine who has priority to...Ch. 4 - Prob. 22DQCh. 4 - Prob. 23DQCh. 4 - Prob. 24DQCh. 4 - Prob. 25DQCh. 4 - For tax purposes, why is the married filing...Ch. 4 - Prob. 27DQCh. 4 - Prob. 28PCh. 4 - David and Lilly Fernandez have determined their...Ch. 4 - Prob. 30PCh. 4 - Prob. 31PCh. 4 - Prob. 32PCh. 4 - Prob. 33PCh. 4 - Prob. 34PCh. 4 - The Samsons are trying to determine whether they...Ch. 4 - Prob. 36PCh. 4 - Francines mother Donna and her father Darren...Ch. 4 - Jamel and Jennifer have been married 30 years and...Ch. 4 - Dean Kastner is 78 years old and lives by himself...Ch. 4 - Prob. 40PCh. 4 - Prob. 41PCh. 4 - Prob. 42PCh. 4 - Prob. 43PCh. 4 - Prob. 44PCh. 4 - Prob. 45PCh. 4 - Prob. 46PCh. 4 - Prob. 47PCh. 4 - Prob. 49PCh. 4 - Prob. 50PCh. 4 - Prob. 51PCh. 4 - Prob. 52PCh. 4 - Prob. 53PCh. 4 - Prob. 54CPCh. 4 - Prob. 55CPCh. 4 - Prob. 56CPCh. 4 - Prob. 57CP
Knowledge Booster
Learn more about
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
- Margaret, age 65, and John, age 62, are married with a 23 -year-old daughter who lives in their home. They provide over half of their daughter's support, and their daughter earned $4,100 this year from a part-time job. Their daughter is not a full-time student. The daughter can/cannot be claimed as a dependent because: She cannot be claimed because she is over 19 and not a full-time student. She can be claimed because she is a qualifying child. She can be claimed because she is a qualifying relative. She cannot be claimed because she fails the gross income test.arrow_forwardBill and karen are divorced and the parents of one child who is in bill's custody. in order to work, bill pays karen to care for the child. assuming that karen did not reside with bill, can boll claim a deduction for the child care expenses he incurred?arrow_forwardJohn supports Kevin, his cousin, who lived with him throughout 2019. John also supports three other individuals who do not live with him: Donna, who is John's mother Melissa, who John's stepsister Morris, who is John's cousin Assume that Donna, Melissa, Morris, and Kevin each earn less than $4,200. How many dependents can John claim? 1 0000 34arrow_forward
- 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 Оb. S18,650 Oc. $20,300 а. Od. $24,800 Oe. Susan does not qualify for claiming a standard deduction. е.arrow_forwardDetermine whether the individuals will qualify as the taxpayer's dependent in each of the following independent scenarios. Specify whether the dependent would come under the qualifying child category, the qualifying relative category, or "not applicable" (if the individual does not qualify as a dependent). a. Andy maintains a household that includes a cousin (age 12), a niece (age 18), and a son (age 26). All are full-time students. Andy furnishes all of their support, and all are "members of the household." Cousin Qualified dependent Niece Qualified dependent Son Qualified dependent Qualifying child Qualifying child Qualifying relative b. Mandeep provides all of the support of a family friend's son (age 20), who lives with her. She also furnishes most of the support of her stepmother, who does not live with her. Family friend's son Qualified dependent Stepmother Not a dependent Qualifying relative Qualifying relative c. Raul, a U.S. citizen, lives in Costa Rica. Raul's household…arrow_forwardHansabenarrow_forward
- Vishanoarrow_forwardOlivia is an unmarried attorney. Her friend Lana has fallen on hard times since she lost her job. Olivia allows Lana to reside with her for the entire year and provides over half of Lana’s support. Lana only earned $3,000 for the tax year. What is Olivia’s filing status? Group of answer choices a)Single, because even though Lana is a dependent, Lana is not related to Olivia. b)Single, because Lana is not a qualifying child, and only taxpayers with qualifying children can claim head of household. c)Head of Household, because Olivia has maintained a household for Lana for over ½ of the year. d)Head of Household, because Lana is Olivia’s qualifying relative, and Olivia has maintained a home for her for over ½ the tax year.arrow_forwardHenry's oldest son has few financial resources. Henry would like to contribute annually to a trust, with his son only receiving the trust income. The remainder of the trust would go to his grandchildren (his son's children) at his son's death. Henry wants his son to receive all the earnings from the trust with no restrictions. He realizes that his son will likely squander trust income he receives but wants to otherwise protect his son from his creditors. Which of the following trusts would you recommend that Henry establish for the benefit of his son? A) A support trust B) An irrevocable trust, including spendthrift provisions C) A Section 2503(b) trustarrow_forward
- Juan and Maria, who have two young children, are in the process of obtaining a divorce. Juan expects to have $250,000 of income each year while Maria expects to have $180,000 of income each year. Assume the children will live with Maria after the divorce and that Juan will pay child support. What advice can you provide them regarding the child credit? A. The child credit is phased out for single taxpayers with AGI above $400,000. Juan will be entitled to the child credit because his income is below the threshold. The credit is only available to taxpayers who claim the children as dependents, so it would be beneficial to allow Juan to claim the children. The tax savings received by Juan should be considered when the amount of child support that Juan must pay is being determined. B. Juan's AGI exceeds $200,000, but Maria's AGI does not. The child credit thus would be reduced if Juan claims it, but there would be no reduction if Maria claims it. Overall,…arrow_forwardMargie and her sister, Jan, each own half of the shares of a closely held business. Margie is concerned about what will happen to the business if Jan dies because Jean just married a man who Margie cannot stand. Jan is also concerned because, although Margie is currently single, she has children from a prior marriage who Jan feels are spendthrifts. Neither sister is ready to quit the business and retire. Neither sister is financially able to pay a gift tax or a capital gains tax. Which one of the following is the most appropriate business transfer technique for Margie and Jan to use in this situation? A) A private annuity agreement between the two sisters B) A cross-purchase buy-sell agreement between the two sisters C) An installment sale contract between the two sisters D) A preferred stock recapitalization of the businessarrow_forwardKaelyn's mother, Judy, looks after Kaelyn's four-year-old twins so Kaelyn can go to work (she drops off and picks up the twins from Judy's home every day). Since Judy is a relative, Kaelyn made sure, for tax purposes, to pay her mother the going rate for child care ($16,490 for the year). What is the amount of Kaelyn's child and dependent care credit in 2022 if her AGI for the year was $131,900?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Individual Income TaxesAccountingISBN:9780357109731Author:HoffmanPublisher:CENGAGE LEARNING - CONSIGNMENT
Individual Income Taxes
Accounting
ISBN:9780357109731
Author:Hoffman
Publisher:CENGAGE LEARNING - CONSIGNMENT