Reference no: EM132886116

Questions -

Q1. Mr. and Mrs. Twig are both over 65 years of age and have no dependents. Their only income for the year was his salary of $25,500. During the year they made only a nominal amount of disbursements of the type that qualify as itemized deductions. What is their standard deduction on a 2020 joint return?

a. $24,800

b. $12,400

c. $27,400

d. $15,700

e. None of the above

Q2. John Jergens, a 45-year-old, is the sole support of his aged parents. His father is 72 and is in good health. His mother is 70 and is blind. What filing status should John claim on his 2020 tax federal tax return?

a. Single

b. Head of Household

c. Married filing jointly

d. Married filing separately

e. None of the above

Q3. Determine the amount of taxable income of Michael Manx in 2020, who is single and has $300 of wages and $2,000 of interest income for the year. He is claimed as a dependent by his parents.

a. $2,000

b. $2,300

c. $1,200

d. $1,650

e. $0

Q4. Max Moore is a widower (his spouse died in 2018) and maintains a separate apartment for his father. Max cannot take a dependency exemption for his father because his father's income is $4,900 per year. What is the best filing status for Max for 2020?

a. Joint return

b. Surviving spouse

c. Head of household

d. Single

e. None of these