The eligible dependent credit is ______________. A. only available for single parents living with and supporting...
The eligible dependent credit is ______________.
A.
only available for single parents living with and supporting a child under the age of 18
B.
equal to 15% of the wholly dependent person's income
C.
most commonly claimed by single parents supporting a minor child who lives with them
D.
available to all individual taxpayers supporting a wholly dependent person who lives with them
Homework Answers
Answer : Option - A, only available for single parents living with and supporting a child under the age of 18
Explanation :
The eligible dependent credit is only available for single parents living with and supporting a child under the age of 18.
Children under the age of 18 who are your children, grandchildren, brothers or sisters through birth, adoption, marriage or common-law partnership may also be considered eligible dependants all are covered under this.
Add Answer to:
The eligible dependent credit is ______________.
A.
only available for single parents living with and supporting...
QUESTION 6 An 18-year-old full-time student child who is claimed on the parents' tax return as...
QUESTION 6 An 18-year-old full-time student child who is claimed on the parents' tax return as a dependent is eligible for the child tax credit. True False 1 points QUESTION 7 A single taxpayer, who is not a dependent on another’s return, not blind and under age 65, with income of $11,750 must file a tax return. True False 1 points QUESTION 8 If an unmarried taxpayer paid more than half the cost of keeping a home which is the...
In 2018, Lana, a single taxpayer with AGI of $204,400, claims three dependent children, all under...
In 2018, Lana, a single taxpayer with AGI of $204,400, claims three dependent children, all under age 17. Reference: joint returns: $400,000 single taxpayers: $200,000 married person filing separate returns: $200,000 What is the amount of her child credit?
1. Cindy (age 41) is a surviving spouse and provides all the support of her two...
1. Cindy (age 41) is a surviving spouse and provides all the support of her two minor children who live with her (both are under age 16). She also maintains the household in which her parents live and furnished 65% of their support. Besides interest on City of Miami bonds in the amount of $5,500, Cindy's father received $2,400 from a part-time job. Cindy has a salary of $95,000, a short-term capital loss of $2,000, a cash prize of $4,000...
QUESTION 16 All taxpayers may use the tax rate schedule to determine their tax liability. True...
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please help will rate Acc 403 Fall 2020 Homework #1 Please show your work using good...
please help will rate
Acc 403 Fall 2020 Homework #1 Please show your work using good form. 1. Cindy (age 41) is a surviving spouse and provides all the support of her two minor children who live with her (both are under age 16). She also maintains the household in which her parents live and furnished 65% of their support. Besides interest on City of Miami bonds in the amount of $5,500, Cindy's father received $2,400 from a part-time job....
Problem 7-9 Child and Dependent Care Credit (LO 7.3) Calculate the amount of the child and...
Problem 7-9 Child and Dependent Care Credit (LO 7.3) Calculate the amount of the child and dependent care credit allowed for 2018 in each of the following cases, assuming the taxpayers had no income other than the stated amounts. TABLE 6.1 CHILD AND DEPENDENT CARE CREDIT PERCENTAGES Adjusted Gross Income Applicable Percentage Over But Not Over $0 – $15,000 35% 15,000 – 17,000 34% 17,000 – 19,000 33% 19,000 – 21,000 32% 21,000 – 23,000 31% 23,000 – 25,000 30%...
a. Arnie is a single college student who earned $7,700 working part-time. He had $200 of...
a.
Arnie is a single college student who earned $7,700 working
part-time. He had $200 of interest income and received $1,000 of
support from his parents.
b.
Buddy is a single college student who earned $7,700 working
part-time. He had $1,600 of interest income and received $1,000
of support from his parents.
c.
Cindy is divorced and received $6,000 of alimony from her
former husband and earned $12,000 working as a secretary. She also
received $1,800 of child support for...
Hello, I'm having some trouble computing the taxable income for this problem. Please describe how you...
Hello,
I'm having some trouble computing the taxable income for this
problem. Please describe how you arrive at the correct answer.
The problem is referring to the 2018 tax code.
Problem 3-39 (LO. 1, 2, 3, 4, 5, 6) Charlotte (age 40) is a surviving spouse and provides all of the support of her four minor children who live with her (all are under age 16). She also maintains the household in which her parents live and furnished 60% of...
1) A dependent child, age 18 and single has wages of $3,900 and dividend income of...
1) A dependent child, age 18 and single has wages of $3,900 and dividend income of $3,300 in tax ... Assume that she is subject to the kiddie tax, and her father, her sole surviving parent, has taxable income of $49,000 and files his 2014 return using the head of household filing status. What is the child's tax liability? 2) A taxpayer who provides 40% of the support of her parents and claims them as dependents because of a multiple...
1) A dependent child, age 18 and single has wages of $3,900 and dividend income of...
1) A dependent child, age 18 and single has wages of $3,900 and dividend income of $3,300 in tax year 2014. What is her standard deduction? 2) Refer to question 1. Assume that she is subject to the kiddie tax, and her father, her sole surviving parent, has taxable income of $49,000 and files his 2014 return using the head of household filing status. What is the child's tax liability? 3) A taxpayer who provides 40% of the support of...
1. Cindy (age 41) is a surviving spouse and provides all the support of her two minor children who live with her (both are under age 16). She also maintains the household in which her parents live and furnished 65% of their support. Besides interest on City of Miami bonds in the amount of $5,500, Cindy's father received $2,400 from a part-time job. Cindy has a salary of $95,000, a short-term capital loss of $2,000, a cash prize of $4,000...
please help will rate
Acc 403 Fall 2020 Homework #1 Please show your work using good form. 1. Cindy (age 41) is a surviving spouse and provides all the support of her two minor children who live with her (both are under age 16). She also maintains the household in which her parents live and furnished 65% of their support. Besides interest on City of Miami bonds in the amount of $5,500, Cindy's father received $2,400 from a part-time job....
a.
Arnie is a single college student who earned $7,700 working
part-time. He had $200 of interest income and received $1,000 of
support from his parents.
b.
Buddy is a single college student who earned $7,700 working
part-time. He had $1,600 of interest income and received $1,000
of support from his parents.
c.
Cindy is divorced and received $6,000 of alimony from her
former husband and earned $12,000 working as a secretary. She also
received $1,800 of child support for...
Hello,
I'm having some trouble computing the taxable income for this
problem. Please describe how you arrive at the correct answer.
The problem is referring to the 2018 tax code.
Problem 3-39 (LO. 1, 2, 3, 4, 5, 6) Charlotte (age 40) is a surviving spouse and provides all of the support of her four minor children who live with her (all are under age 16). She also maintains the household in which her parents live and furnished 60% of...
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