ANSWERS: 1
  • The head of household status is an option you can select when filing your federal tax returns. It allows for a higher standard deduction than someone who is filing as a single person.

    How to File

    You must meet all of these requirements if you want to file as head of household. You are unmarried. You paid more than half the cost of keeping up a home for the year. A "qualifying person" lived with you in your home for more than half the year (except for temporary absences, such as school).

    Exception

    If the "qualifying person" on your form is your dependent parent, he does not have to live with you.

    Benefits

    If you qualify to file as head of household, your tax rate usually will be lower than the rates for single or married filing separately. You will also receive a higher standard deduction than if you file as single or married filing separately.

    Forms

    If you want to file as head of household, you must use tax form 1040 or 1040A.

    Deduction

    For the 2008 tax year, the standard deduction for those filing as head of household was $8,350.

    Source:

    IRS Information

Copyright 2023, Wired Ivy, LLC

Answerbag | Terms of Service | Privacy Policy