1. What is the amount of standard deduction for Abigail Abrams in 2015, a divorc
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Question
1. What is the amount of standard deduction for Abigail Abrams in 2015, a divorced parent (age 67) who is not blind and fully supports her ten-year-old granddaughter?
2. Max Moore is a widower (his spouse died in 2011) and maintains a separate apartment for his mother. His mother has taxable income in 2015 of $4,900. What is the best filing status for Max for 2015.
3. Don Driller, who is 51 years old, is provided with $300,000 of group-term life insurance by his employer. Don’s required contribution to the cost of the policy is $150 per year. If Don was covered by the policy for the entire year in 2015, how much is included in Don’s income as a result of this policy?
4. Calculate the total moving expenses that could be deducted for AGI if a taxpayer has the following costs for a move from Pennsylvania to Wisconsin because of his full-time job transfer:
Uhaul truck rental $2,895 (including mileage on the truck), real estate commission on sale of PA home, $12,150, 1,315 miles driven on personal vehicle driven behind the Uhaul, gas for Uhaul $384, hotel in Ohio on the way $118, hotel in Wisconsin while waiting for new house to be vacated $240, meals while traveling $198.
Explanation / Answer
1.
$7850 will be standard deduction for a person above 65 years filling single.
Refer table 7 for : https://www.irs.gov/publications/p501/ar02.html#en_US_2015_publink1000289300
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