Which of the following statements is true? [Find answer in Chapter 8] A. The EITC claimant's investment income can't exceed the inflation-adjusted amount of $11,600. B. MFS filers who had a qualifying child live with them for more than half of the year and are legally separated from their spouse under state law may claim the EITC. C. Parents with SSNs can claim the EITC even if their children don't have SSNs (but the claimants would be limited to the smaller credit available to childless workers). OD. All of the statements above are true.

4. Corbett's AMTI is $600,000. What is his AMT exemption under the following alternative circumstances? a. He is married and files a joint return. b. He is married and files a separate return. c. Amt exemption = d. His filing status is single. e. His filing status is head of household.

! Required information Problem 8-70 (LO 8-4) (Algo) [The following information applies to the questions displayed below.] Trey has two dependents, his daughters, ages 14 and 18, at year-end. Trey files a joint return with his spouse. What amount of child tax credit (either as a child or a qualifying dependent) will Trey be able to claim in 2023 for his daughters under each of the following alternative situations? Use Exhibit 8-8. Problem 8-70 Part c (Algo) c. His AGI is $422,300, and his daughters are ages 10 and 12. Amount of child tax credit

Required information Problem 8-70 (LO 8-4) (Algo) [The following information applies to the questions displayed below.] Trey has two dependents, his daughters, ages 14 and 18, at year-end. Trey files a joint return with his spouse. What amount of child tax credit (either as a child or a qualifying dependent) will Trey be able to claim in 2023 for his daughters under each of the following alternative situations? Use Exhibit 8-8. Problem 8-70 Part a (Algo) a. His AGI is $108,800. Amount of child tax credit

What is the AGI limit above which each of the following taxpayers would not be eligible to receive a credit for the elderly or the disabled? A single taxpayer eligible for the credit who receives $1,500 of nontaxable social security benefits. not attempted b. Taxpayers filing a joint return for which one taxpayer is eligible for the credit and the taxpayers have received no social security benefits. not attempted c. Taxpayers filing a joint return, and both are eligible for the credit and received $3,500 of nontaxable social security benefits.

Kk.215.

Under what circumstances, if any, can a married person file as a head of household? A. A married person, if otherwise qualified, can claim head of household status only in the first year that he or she can be classified as a surviving spouse. The taxpayer must maintain a household for at least nine months of the year. OB. A married person, if otherwise qualified, can claim head of household status if he or she is married to a nonresident alien or if he or she qualifies as an abandoned spouse. To be an abandoned spouse, the person must have lived apart from his or spouse for the last six months of the year and maintain a household for a qualifying child in which they both live. OC. A married person, cannot claim head of household status, this status is only for single taxpayer that maintain a household for a qualifying child in which they both live. O D. A married person, if otherwise qualified, can claim head of household status only if he or she qualifies as an abandoned spouse. To be…

Question 48 of 75. Which of these is a requirement for claiming the California Joint Custody Head of Household Credit?1. A verbal custody agreement between the parents.2. The home must be the home of the taxpayer's child, stepchild, or grandchild for at least half of the tax year.3. The taxpayer must be separated or divorced for at least six months. 4. The taxpayer must file as single or married/RDP filing separately.

I need to answer on C

Which of the following tax credits can not be transferred to a spouse? The age credits The disability credit The EI and CPP benefits The pension income credits   The claw back of OAS payments will not alter the individual’s net income for tax purposes (True/False)- _________   There is no limit on the amount of the tuition credit that can be transferred to a spouse (True/False)- ________   Adam, who is single supports his 80 years old blind mother who has no income and lives in a nursing home. Which of the following federal tax credit can be claimed for his mother? Disability tax credit only disability tax credit and Canada caregiver tax credit only disability tax credit and eligible tax credit only Canada caregiver credit only.   Joe is self-employed. He might be eligible for all of the following Federal tax credits, except: CPP tax credit EI tax Credit Canada employment Tax Credit Canada workers benefit tax credit.   Elsa is 73 years old. Her 2021 net income for tax…