In: Accounting
Which taxpayer(s) is/are required to file a federal income tax return for 2017? Juan (28) has gross income of $15,400. He is a qualifying widower with one dependent. Elaine (68) has gross income of $12,150. She is single and has no dependents. Randy (32) has gross income of $4,000. His filing status is married filing separately. Robert (65) and Maria (61) have gross income of $21,500. They wish to file a joint return.
Not everyone is required to file federal income tax return.only those imcomes exceed certain amounts must do so.below some limits for filing income tax return in 2017.
1. A qualifying widow(er) with an age under 65 with dependent child ,whose incomes exceeds $ 16750 is required to file federal income tax return . As Juan (28) is quafying widower with one dependent child and has income $15,400 , as his income not exceeds the prescribed limit $ 16,750, thus he don't have file return.
2. Similarly , the person who is filing return as single as his/her filing status with an age of 65 or older is only required file return when incomes exceeds $11,750. Elaina is 68 with an income $12,150 ,so Elaina required to file tax return.
3.a person who is married and filing return as single with any age , is required to file only when income exceeds $4,050. Randy is 32 with an income of $4,000, hence he is not required not to file .
4. If filing status is married filing jointly, with an age of one spouse 65 or more, then the limit is $22,050. Robert(65) ,Maria(61) has an income of $21,500 and married filing jointly as filing status , which is not exceeds the prescribed limit , hence they don't need to file the return.
Therefore only Elaina is required to file the return.