Ask a New Question
Menu

Quinn and Nakita are married and lived in a community property state the entire year. Quinn earned $40,000 in wages, and Nakita earned $60,000. If Quinn and Nakita file separate returns, how much income will be reported on their returns?

Quinn: $20,000; Nakita: $30,000.
Quinn: $40,000; Nakita: $60,000.
Quinn: $50,000; Nakita: $50,000.
Quinn: $100,000; Nakita: $0.

3 answers

In a community property state, income earned by either spouse during the marriage is generally considered to be owned equally by both spouses. Therefore, each spouse reports half of the total income earned during the year.

Quinn earned $40,000, and Nakita earned $60,000, making their total combined income $100,000. In a community property state, this income would be split evenly between them.

  • Total income: $100,000
  • Half of total income for each spouse: $100,000 / 2 = $50,000

So, both Quinn and Nakita would report $50,000 each on their separate returns.

Therefore, the correct option is: Quinn: $50,000; Nakita: $50,000.

Ivan and Sasha were divorced on December 1, 2023. Neither had dependents they could claim for 2023.

What is Ivan's correct and most favorable 2023 filing status?
Single.
Married filing jointly.
Married filing separately.
Head of household.

For tax purposes in the United States, an individual's filing status generally depends on their marital status on December 31 of the tax year. Since Ivan and Sasha were divorced on December 1, 2023, Ivan is considered single for tax filing purposes for the year 2023.

Here's how the options break down for Ivan:

  • Single: This is the correct status because he was divorced by the end of the year.
  • Married filing jointly: This option is not available since they are no longer married.
  • Married filing separately: This option is also not available since they are no longer married.
  • Head of household: This filing status requires the taxpayer to be unmarried and have a qualifying dependent, which does not apply in this case since they have no dependents.

Therefore, Ivan's correct and most favorable 2023 filing status is Single.