Question

Excluded Medicaid waiver payments are not considered as earned income for which of the following? a....

Excluded Medicaid waiver payments are not considered as earned income for which of the following?

a. Earned income Credit
b. Child and Dependent Care Credit
c. Additional Child Tax Credit
d. All of these
0 0
Add a comment Improve this question Transcribed image text
Answer #1
Excluded Medicaid waiver payments are not considered as earned income for Child and Dependent Care Credit.
Excluded Medicaid waiver payments are considered as earned income for Earned income Credit and Additional Child Tax Credit as per ruling in Feigh, (2019) 152 TC No. 15 case.
Option B is correct
Add a comment
Know the answer?
Add Answer to:
Excluded Medicaid waiver payments are not considered as earned income for which of the following? a....
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Medicaid payments for in-home care are classified as Medicaid waiver payments when, during the time you...

    Medicaid payments for in-home care are classified as Medicaid waiver payments when, during the time you give care: Choose one answer. a. You and the care recipient do not reside in the same home. b. You and the care recipient reside in the same home. c. It makes no difference where you reside. d. Medicaid payments for in-home care are never classified as Medicaid waiver payment

  • 8 Credits [1] If a taxpayer qualifies for the Earned Income Credit, such credit can be...

    8 Credits [1] If a taxpayer qualifies for the Earned Income Credit, such credit can be subtracted from A. Gross income to arrive at adjusted gross income. B. Adjusted gross income to arrive at taxable income. C. The tax owed, or can result in a refund, but only if the taxpayer had tax withheld from wages. D. The tax owed, or can result in a refund, even if the taxpayer had no tax withheld from wages. [2] Which of the...

  • Which is true? a. Gain on the sale of municipal bonds is excluded from tax. b....

    Which is true? a. Gain on the sale of municipal bonds is excluded from tax. b. The Additional Medicare Tax applies only to self-employment income. c. In order to be subject to the kiddie tax the child must qualify as a dependent. d. Advance rental payments are taxed when eamed (not when received) by an accrual-basis taxpayer. e. None

  • Tim and Martha paid $7,900 in qualified employment-related expenses for their three young children, who live...

    Tim and Martha paid $7,900 in qualified employment-related expenses for their three young children, who live with them in their household. Martha received $1,800 of dependent care assistance from her employer, which was properly excluded from gross income. The couple had $57,000 of AGI earned equally. Use Child and Dependent Care Credit AGl schedule. a. What amount of child and dependent care tax credit can they claim on their Form 1040? b. How would your answer differ (if at all)...

  • Most refundable credits are reported on Schedule 5, but the following credits are reported directly on...

    Most refundable credits are reported on Schedule 5, but the following credits are reported directly on Form 1040, Line 17: Choose one answer. a. Earned Income Credit, Child Tax Credit, Additional Child Tax Credit b. Child Tax Credit, Credit for Other Dependents, Energy Credit c. Child and Dependent Care Credit, Adoption Credit, Earned Income Credit d. Earned Income Credit, Additional Child Tax Credit, Refundable portion of American Opportunity Credit

  • Which of the following is not an eligibility requirement for claiming the earned income credit with...

    Which of the following is not an eligibility requirement for claiming the earned income credit with a qualifying child? Choose one answer. a. You must have earned income. b. You must claim your qualifying child as a dependent. c. The child must be related to you in one of the ways described in the instructions. d. The child must have lived in the U.S. for more than half of the year. e. The age of the child

  • Which of the following is not an eligibility requirement for claiming the earned income credit with...

    Which of the following is not an eligibility requirement for claiming the earned income credit with a qualifying child? Choose one answer. a. You must have earned income. b. You must claim your qualifying child as a dependent. c. The child must be related to you in one of the ways described in the instructions. d. The child must have lived in the U.S. for more than half of the year. e. The age of the child

  • 40. In computing AMTI, tax preference items are A) excluded. B) added only. C) subtracted only....

    40. In computing AMTI, tax preference items are A) excluded. B) added only. C) subtracted only. D) either added or subtracted. 41. In 2018, Essam and Katia have alternative minimum taxable income of $125,000 and file a joint return. For purposes of computing the alternative minimum tax, their exemption is A) $0. B) $70,300. C) $84,500. D) $109,400. 42. Sam and Esterina are married, file a joint return, and have two children, ages 9 and 11. Their combined AGI is...

  • Which of the following items are excluded from the term "foreign earned income"? A) family allowance....

    Which of the following items are excluded from the term "foreign earned income"? A) family allowance. B) cost of living allowance. C) reimbursement for education allowance. D) income earned on days working in the US while taxpayer meets requirement for FEIE

  • Question 57 of 75 Can a taxpayer claim both the foreign earned income exclusion and the...

    Question 57 of 75 Can a taxpayer claim both the foreign earned income exclusion and the foreign tax credit? O No, the taxpayer must choose one tax benefit or the other. O Yes, but the taxpayer cannot claim the credit for taxes paid on excluded income O Yes, but the taxpayer cannot claim the credit and exclusion on income from the same country O Yes, but the taxpayer cannot claim the credit and exclusion on income in the same category...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT