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Filling Status

There are five filing statuses:

  • Single (S).

  • Married Filing Jointly (MFJ).

  • Married Filing Separately (MFS).

  • Head of Household (H/H).

  • Qualifying Widow(er) With Dependent Child (Q/W).


There are eight type of Income:

  • Wages, Salaries, Tips, and other Earnings

  • Interest Income

  • Dividend Income

  • Rental Income and Expenses

  • Retirement Plans, Pensions and Annuities

  • Social Security

  • Foreign Source Income

  • Other Income


There are two types of exemptions:

  • Personal exemption for taxpayer and spouse.

  • Exemption for dependents (dependency exemptions).

A taxpayer may take one personal exemption of $4,050, unless he or she can be claimed as a dependent by another person. If another person can claim the taxpayer as a dependent, the taxpayer cannot take the personal exemption, even if the other person does not actually claim the exemption.

Standard Deduction

Standard Deduction for 2017:

  • Single: $ 6,350

  • Married Filing Jointly: $ 12,700

  • Married Filing Separately: $ 6,350

  • Head of Household: $ 9,350

For 2017, the additional standard deduction amount for the aged or the blind is $1,250. The additional standard deduction amount is increased to $1,550 if the individual is also unmarried and not a surviving spouse.

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Itemized Deduction

Eligible Itemized Deduction expenses:

  • Medical and Dental Expenses

  • Taxes

  • Interest Expense

  • Charitable Contributions

  • Non-business Casualty and Theft Losses

  • Car Expenses and Other Employee Business Expenses

  • Work Related Education Expenses

  • Miscellaneous Itemized Deductions

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Health Insurance

Form 1095-A

A taxpayer will need Form 1095-A, Health Insurance Marketplace Statement, to complete Form 8962. The Marketplace is required to provide or send Form 1095-A to the taxpayer.

Form 1095-C

Form 1095-C, Employer-Provided Health Insurance Offer and Coverage. Part II of the Form 1095-C indicates whether the employer offered health insurance coverage and, if so, includes information about the offer. If a taxpayer purchased health insurance coverage for 2015 through a Marketplace and wish to take the PTC, this information may assist the taxpayer in determining whether he or she is eligible for the PTC.

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