For the "kiddie tax" rule to apply, the child must __________. -Have less than $2,200 in investment income. -Have enough earned income to pay over 50% of their own support. -Have at least one living parent. -Not have attained age 23 in the tax year.

For the "kiddie tax" rule to apply, the child must __________. -Have less than $2,200 in investment income. -Have enough earned income to pay over 50% of their own support. -Have at least one living parent. -Not have attained age 23 in the tax year.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

For the "kiddie tax" rule to apply, the child must __________.

-Have less than $2,200 in investment income.

-Have enough earned income to pay over 50% of their own support.

-Have at least one living parent.

-Not have attained age 23 in the tax year.

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