Answer to Question #254773 in Financial Math for Katie

Question

Which of the following statements is false for a person wanting to use and file a Form 1040EZ tax return? A. Taxable income is less than 100,000 B. No more than two dependents, in addition to the tax payer plus spouse C. Taxable interest is not over $1,500 D. Filing status is either single or married filing jointly only

Answer 1

B. No more than two dependents, in addition to the tax payer plus spouse

A single tax payer with no children can claim only one allowance, however a married couple with one source of income can file a combined return with two allowances. If you financially support your children and they are under the age of 19, you can claim them as dependents.