Question

Howard, age 82, died on January 2, 2019. On his final income tax return, the full amount of the basic and additional standard deductions will be allowed even though Howard lived for only two days during the year.

True
False

Answer 1

The statement is true. The basic and additional standard deductions can be claimed in full on Howard's final income tax return, regardless of the duration of his life.

Step-by-step explanation:

The statement 'On his final income tax return, the full amount of the basic and additional standard deductions will be allowed even though Howard lived for only two days during the year' is True.

The basic and additional standard deductions are predetermined amounts that reduce the taxable income of individuals. These deductions are fixed and not prorated based on the number of days a person lived during the year. As long as Howard meets the eligibility criteria for claiming these deductions, he can include them on his final income tax return for the year 2019, regardless of the duration of his life.

For example, if the basic standard deduction for the year 2019 is $12,000, Howard can reduce his taxable income by $12,000, even though he lived for only two days in the year. This deduction will help lower his overall tax liability on the final income tax return.

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