EXEMPTIONS - FILING STATUS

Federal Income Tax Course Outline

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Lessons:

1. GENERAL PRINCIPLES

2. EXEMPTIONS - FILING STATUS

3. THE TAX COMPUTATION

4. GROSS INCOME EXCLUSIONS AND INCLUSIONS

5. GROSS INCOME EXCLUSIONS AND INCLUSIONS (Cont'd)

6. GAIN OR LOSS ON THE SALE OR EXCHANGE OF PROPERTY

7. BASIS

8. CAPITAL GAINS AND LOSSES

9. BUSINESS DEDUCTIONS

10. OTHER ALLOWABLE DEDUCTIONS

11. DEPRECIATION, ACCELERATED COST-RECOVERY, DEPLETION AND AMORTIZATION

12. BUSINESS AND CASUALTY LOSSES

13. BAD DEBTS

14. SELF-EMPLOYMENT TAX

15. ESTIMATED TAX

16. PAYROLL TAXES INCOME TAX WITHHOLDING

17. OTHER PAYROLL TAXES

18. TAX CREDITS

19. SPECIAL PROVISIONS FOR GAIN ON THE SALE OF TAXPAYER'S RESIDENCE

20. MISCELLANEOUS SPECIAL PROVISIONS

Assignment 2

EXEMPTIONS - FILING STATUS

Contents

Introduction 201

Taxpayer's Own Exemption 202

Exemption for Taxpayer's Spouse 203

Exemptions for Dependents 204

The Support Test 205

Multiple Support Agreement 206

Special Rules for Children of Divorced or Separated Parents 207

The Gross Income Test 208

The Relationship Test 209

The Citizenship or Residence Test 210

Summary of Dependency Rules 211

Filing Status 212

Head of Household 213

Surviving Spouse 214

Phaseout of Exemption Deduction for Higher Income Taxpayers 215