Tax-Related Questions | Tax Information | PriorTax

Tax Related Questions > Personal Information

 
  • Who must file taxes?
    If your gross income was as least as great as the amount shown below and you are under 65 years old, you must file an income tax return Single - $9,5...
  • What are the types of filing statuses?
    There are five possible filing statuses, based on your marital status and family circumstances, which determine the amount of your standard deduction,...
  • Single Filing Status
    Single is the default filing status for taxpayers who are unmarried or considered unmarried. Your marital status on the last day of the calendar year...
  • Married Filing Jointly Filing Status
    Married filing jointly is one of two filing statuses available to married taxpayers, the other being married filing separately. Married filing jointly...
  • Married Filing Separately Filing Status
    Married filing separately is one of two filing statuses available to married taxpayers, the other being married filing jointly. Married filing separat...
  • Head of Household Filing Status
    Head of household is a special filing status that allows for several unique tax breaks such as a higher standard deduction, lower tax rates, and more ...
  • What is my principal residence?
    Your principal residence, also known as your main home, is the home you live in most of the time. It can be a house, houseboat, mobile home, cooperati...
  • What are personal exemptions?
    A personal exemption is a tax deduction that allows you to reduce your taxable income, thus reducing the amount of income tax you owe. The amount of...
  • What tax breaks can a dependent get me?
    For every dependent you have, you are allowed to claim a dependency exemption, which decreases the amount of income on which you are taxed. For 2011 t...
  • What Is a Dependency Exemption?
    In addition to the Personal Exemptions for you and your spouse, the IRS allows you to substract an equivalent exemption amount from your taxable incom...
  • Who qualifies as a dependent?
    Dependents are divided into two categories: qualifying children and qualifying relatives, each with its own set of requirements. If your dependent is ...
  • Can an adult qualify as a dependent?
    You may be able to claim certain adults who are permanently and totally disabled, regardless of age, as a qualifying child. You may also be able to...