Which of the following statements is false? A. The maximum nonrefundable amount of the child tax...
Which of the following statements is false?
A. The maximum nonrefundable amount of the child tax credit is $2,000 per qualifying child.
B. The maximum nonrefundable amount of the credit for other dependents is $500 per qualifying dependent.
C. The amount of the refundable additional child tax credit is limited to $1,400 per qualifying child.
D. Children with an ITIN qualify for the child tax credit and the additional child tax credit.
Homework Answers
Answer D)Children with an ITIN qualify for the child tax credit and the additional child tax credit.
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Which of the following statements is false?
A. The maximum nonrefundable amount of the child tax...
Which of the following statements is false? A. The maximum nonrefundable amount of the child tax...
Which of the following statements is false? A. The maximum nonrefundable amount of the child tax credit is $2,000 per qualifying child. B. The maximum nonrefundable amount of the credit for other dependents is $500 per qualifying dependent. C. The amount of the refundable additional child tax credit is limited to $1,400 per qualifying child. D. Children with an ITIN qualify for the child tax credit and the additional child tax credit. Ed is single with no dependents. He has...
which of the following statement is true? A. The maximum nonrefundable amount of the child tax...
which of the following statement is true? A. The maximum nonrefundable amount of the child tax credit is $1000 per qualifying child B. The credit of other dependents is a refundable credit C. The amount of the refundable additional child tax credit is limited to $2000 per qualifying child D. Children with an ITIN do not qualify for the child tax credit and the additional child tax credit
Which of the following statements is not true regarding the $500 credit for dependent other than...
Which of the following statements is not true regarding the $500 credit for dependent other than a qualifying child credit. Cannot be claimed on the same tax return if the child tax credit is also been claimed. Has no age limit. Is available to dependence with an ITIn Is nonrefundable
With regard to the child tax credit which of the following statements is correct? The child...
With regard to the child tax credit which of the following statements is correct? The child tax credit is based on the number of the taxpayer's qualifying children under age 17. The maximum credit is $1,500 per qualifying child. A qualifying child does not need to be a citizen of the United States. A qualifying child does not need to be a dependent of the taxpayer claiming the credit. The credit is phased out by $50 for every $1,000 or...
Credits Question 20 of 75. Which statement about the Credit for Other Dependents is FALSE? The...
Credits Question 20 of 75. Which statement about the Credit for Other Dependents is FALSE? The qualifying child may be 17 years of age or older. The qualifying dependent may have an ITIN or ATIN (Adoption tax identification number). The qualifying dependent may be the taxpayer's aging parent. The credit is $1,000 per qualifying dependent. Mark for follow up Question 21 of 75. Which statement about education credits is FALSE? A student may qualify for the lifetime learning credit if...
Question 23 of 75. Realize our potential: H&R Block Which of the following tax benefits may...
Question 23 of 75. Realize our potential: H&R Block Which of the following tax benefits may reduce a taxpayer's tax liability below zero? Adjustment Deduction. Nonrefundable credit. Refundable credit. Time remaining 77:17 Mark for follow up Question 24 of 75. Review the following choices, then choose the only response that does NOT describe a due diligence requirement for an individual who is paid to prepare returns for taxpayers claiming the head of household filing status and/or one or more of...
Don and Cynthia are married, and they will file a joint federal income tax return for...
Don and Cynthia are married, and they will file a joint federal income tax return for 2018. Their 21-year-old daughter, Matilda, is a full-time student at their state university. She is their only dependent. Don and Cynthia are most likely to benefit from which of the following? The personal and dependent exemption. A refundable family tax credit. An adjustment for non-child dependents, reported on Schedule 1. A nonrefundable credit for other dependents.
Question 1 Which of the following tax credits cannot be transferred to a spouse? The disability...
Question 1 Which of the following tax credits cannot be transferred to a spouse? The disability tax credit The pension income tax credit The age credit The CPP and EI tax credit Question 2 Which of the following relatives would not qualify to be claimed with the eligible dependent tax credit? Healthy grandfather age 65. Healthy mother age 56. Healthy brother age 25. Healthy daughter age 9. Question 3 A qualifying expenditure for the home accessibility tax credit would include:...
4) Which of the following statements is not true with regard to the child and dependent...
4) Which of the following statements is not true with regard to the child and dependent care expense credit? A) The maximum amount of expenses for one dependent is $3,000. B) Married taxpayers must file joint returns. C) A non-working spouse attending school full-time is deemed to have earned income of $250 D) The maximum amount of expenses for two or more dependents is $6,000.
which of the following statements about the nonbusiness energy property credit is false Question 28 of...
which of the following statements about the nonbusiness energy
property credit is false
Question 28 of 65. Which of the following statements about the Nonbusiness Energy Property Credit is FALSE? Taxpayers who claim this credit must file Form 5695 with their tax return O Taxpayers may claim the credit for qualifying improvements made to a rented property as long as it is a primary residence. O Taxpayers may only claim the credit for improvements made to their primary residence: Improvements...
Which of the following statements is false? A. The maximum nonrefundable amount of the child tax credit is $2,000 per qualifying child. B. The maximum nonrefundable amount of the credit for other dependents is $500 per qualifying dependent. C. The amount of the refundable additional child tax credit is limited to $1,400 per qualifying child. D. Children with an ITIN qualify for the child tax credit and the additional child tax credit. Ed is single with no dependents. He has...
With regard to the child tax credit which of the following statements is correct? The child tax credit is based on the number of the taxpayer's qualifying children under age 17. The maximum credit is $1,500 per qualifying child. A qualifying child does not need to be a citizen of the United States. A qualifying child does not need to be a dependent of the taxpayer claiming the credit. The credit is phased out by $50 for every $1,000 or...
Credits Question 20 of 75. Which statement about the Credit for Other Dependents is FALSE? The qualifying child may be 17 years of age or older. The qualifying dependent may have an ITIN or ATIN (Adoption tax identification number). The qualifying dependent may be the taxpayer's aging parent. The credit is $1,000 per qualifying dependent. Mark for follow up Question 21 of 75. Which statement about education credits is FALSE? A student may qualify for the lifetime learning credit if...
Question 23 of 75. Realize our potential: H&R Block Which of the following tax benefits may reduce a taxpayer's tax liability below zero? Adjustment Deduction. Nonrefundable credit. Refundable credit. Time remaining 77:17 Mark for follow up Question 24 of 75. Review the following choices, then choose the only response that does NOT describe a due diligence requirement for an individual who is paid to prepare returns for taxpayers claiming the head of household filing status and/or one or more of...
4) Which of the following statements is not true with regard to the child and dependent care expense credit? A) The maximum amount of expenses for one dependent is $3,000. B) Married taxpayers must file joint returns. C) A non-working spouse attending school full-time is deemed to have earned income of $250 D) The maximum amount of expenses for two or more dependents is $6,000.
which of the following statements about the nonbusiness energy
property credit is false
Question 28 of 65. Which of the following statements about the Nonbusiness Energy Property Credit is FALSE? Taxpayers who claim this credit must file Form 5695 with their tax return O Taxpayers may claim the credit for qualifying improvements made to a rented property as long as it is a primary residence. O Taxpayers may only claim the credit for improvements made to their primary residence: Improvements...
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