Year of death exemptions and standard deduction…

Husband died in Jan 2010 and the surviving spouse is doing some tax planning. Is it correct that the 2010 tax return will still reflect the deceased husband’s exemption amount, as well as, the full standard deduction of $11,400 if not itemizing? Filing status for 2010 will be “married filing jointly?”



Dave,

Your understanding is correct. Filing status for 2010 tax return is MFJ and standard deduction is applicable if itemized deductions do not exceed standard deduction. Keep an eye on last minute tax changes, if any, that may take place in last three months of tax year regarding additions to standard deduction.. Examples include the up to $1000 of real estate tax paid in 2010 and deduction of state sales tax paid in lieu of state income tax paid.

Filing status for tax year 2011 will be single, unless there is a dependent child/children involved. If so, she might qualify for the qualified widow with dependent child filing status for up to two years.

Tom D.



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