Question

Select all that apply. Individual taxpayers are required to file a tax return only if their gross income exceeds certain thresholds which vary based on?

a) Age
b) Filing status
c) Number of dependents
d) Occupation

Answer 1

Individual taxpayers are required to file a tax return only if their gross income exceeds certain thresholds which vary based on age, filing status, and number of dependents.

Step-by-step explanation:

To determine if an individual taxpayer is required to file a tax return, certain thresholds must be met. These thresholds vary based on:

• Age: Different age groups may have different income thresholds for filing.
• Filing status: Married individuals filing jointly or head of household may have different income thresholds compared to single individuals.
• Number of dependents: Individuals with dependents may have higher income thresholds for filing.

Occupation is not a factor in determining the income threshold for filing a tax return.