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After a loved one passes away, the person in charge of settling the deceased's estate is responsible for filing a final individual income tax return and the estate tax return when due. See: Best...
Surviving spouses over 65 must file taxes if they earned $29,200 or more. It’s likely these numbers will be adjusted for inflation in the 2024 tax year, so keep an eye out for updated thresholds ...
The U.S. federal Estate and gift tax marital deduction is only available if the surviving spouse is a U.S. citizen. For a surviving spouse who is not a U.S. citizen a bequest through a Qualified Domestic Trust defers estate tax until principal is distributed by the trustee, a U.S. citizen or corporation who also withholds the estate tax. Income ...
Of these deductions, the most important is the deduction for property passing to (or in certain kinds of trust, for) the surviving spouse, because it can eliminate any federal estate tax for a married decedent. However, this unlimited deduction does not apply if the surviving spouse (not the decedent) is not a U.S. citizen. [29]
However, even if the first day of legal separation or divorce from the spouse is December 31, one cannot file a joint return for any portion of that year. [7] Certain married individuals, not legally separated or divorced, may still be considered single for purposes of filing tax returns if they are living apart. [8]
If your spouse is delinquent on past tax bills or has other IRS issues, filing together opens you up to liability for their tax debts. In most cases, filing separately shields you from ...