Robert age 46 and Susan age 52 are married. Their daughters, Irene, 19 yrs of age anf Amy, 17 yrs of age lived the entire yr with them and received more than 50% support from parents. 1. Is their filing status MFJ? 2. How many Personal and dependent exemptions allowable for 2006? Robert's wages were $45,000; Susan's were $51,500. Irene's gross income was $5,000. Amy's was $0. Are the parent's entitled to an EITC?
2007-10-27 04:49:13 · 5 answers · asked by Mcgruff 1 in Business & Finance ➔ Taxes ➔ United States
If this is a homework question you need to spend more time studying. These are basic questions and any one who wants to be a professional should know where to find the answer.
http://www.irs.gov/pub/irs-pdf/p501.pdf
Your answer is in pub 501.
1. They can file as Married Filing Jointly or Married Filing Separately. P 4-6
2. Each spouse can have 1 personal exemption and 1 dependant exemption for Amy, Irene is 19 so she doesn't qualify under the qualifying child rules unless she is totally disabled or a full time student, she doesn't qualify under the qualifying relative rules because she made more than $3400. Total exemptions 3 see table 5 page 10
3. They make too much money for the Earned Income Credit pub 596 rule 1. http://www.irs.gov/pub/irs-pdf/p596.pdf
2007-10-27 05:23:45 · answer #1 · answered by Charlie & Angie G 4 · 4⤊ 0⤋
Personal And Dependency Exemptions
2016-10-25 04:02:10 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The purpose of going to school is to learn something. Learning how to cheat is not one of the intended lessons. Do your own homework. You should also know that some on this program intentionally give incorrect answers to homework type questions.
2007-10-27 05:52:48 · answer #3 · answered by ? 6 · 1⤊ 0⤋
The detailed answer given above is wrong. Your new assignment is to determine what is wrong with it.
2007-10-27 06:03:19 · answer #4 · answered by Bostonian In MO 7 · 0⤊ 0⤋
visit IRS.gov 4 ur answer
2007-10-27 04:56:19 · answer #5 · answered by Anonymous · 0⤊ 1⤋