What is a tax filing status?

What is a tax filing status?

What is a tax filing status? 
Your tax filing status is used to determine your filing requirements, standard deductions and eligibility for certain credits. This will also determine which tax rate to use when calculating your income tax for the year. If more than one filing status applies to you, choose the one that will result in the lowest amount of tax.

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      Inheritance it is not taxable and it is not reported on your tax return, However if you receive any kind of interest, dividends or rents on that income then it is taxable