Linda Perkins (64) shared a home all year with her son, Dennis (41), and Dennis's son, Chase (20). Linda and Dennis worked full time and Chase was a part-time student. No one else lived in the home. Assuming that both Linda and Dennis have earned income and an AGI of at least $20,000, but less than $30,000, which of them may claim and receive the Earned Income Tax Credit? a. No one. b. Linda only. c. Both Linda and Dennis. d. Either Linda or Dennis, but not both.
Linda Perkins (64) shared a home all year with her son, Dennis (41), and Dennis's son, Chase (20). Linda and Dennis worked full time and Chase was a part-time student. No one else lived in the home. Assuming that both Linda and Dennis have earned income and an AGI of at least $20,000, but less than $30,000, which of them may claim and receive the Earned Income Tax Credit? a. No one. b. Linda only. c. Both Linda and Dennis. d. Either Linda or Dennis, but not both.
Chapter13: Tax Credits And Payment Procedures
Section: Chapter Questions
Problem 35P
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Transcribed Image Text:Linda Perkins (64) shared a home all year with her son, Dennis (41), and Dennis's
son, Chase (20). Linda and Dennis worked full time and Chase was a part-time
student. No one else lived in the home. Assuming that both Linda and Dennis
have earned income and an AGI of at least $20,000, but less than $30,000,
which of them may claim and receive the Earned Income Tax Credit?
a. No one.
b. Linda only.
c. Both Linda and Dennis.
d. Either Linda or Dennis, but not both.
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