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.

In choosing between taking the standard deduction and itemizing deductions from AGI, what effect, if any, does each of the following have? a. The age of the taxpayer(s). b. The health (i.e., physical condition) of the taxpayer. c. Whether taxpayers rent or own their residence. d. Taxpayers filing status (e.g., single, married, filing jointly). e. Whether married taxpayers decide to file separate returns. f. The taxpayers uninsured personal residence was recently destroyed by a wildfire (the region was declared a disaster area by the Federal government). g. The number of dependents the taxpayer can claim.

ASAP!   A)If a married couple files separate returns, both must claim the standard deduction (rather than itemize their below-the-line deductions).      B) Grace, age 16, is claimed as a dependent by her grandfather. During 2021, she had City of Baltimore bonds of $2,000 and earnings from cat-sitting of $400. Calculate her taxable income. You do not need to include the dollar sign, commas, or cents in your answer.   C) In terms of income tax consequences, abandoned spouses who do not have children are treated the same way as married persons filing separate returns.   T OR F?

1. Taxpayers who are blind get the benefit of: a.An additional amount added to their standard deduction. b.Two standard deductions. c.An extra exemption. d.None of these choices are correct.   2. An unmarried taxpayer who maintains a household for a dependent child and whose spouse died four years ago should file as: a.Single b.Head of household c.Married, filing separately d.Qualifying widow(er) e.None of these choices are correct.   3. To pay for college, Henry received the following:   $1,000 scholarship from the Thespian Club to pay for books $4,000 scholarship from the Elks Lodge for tuition $5,000 worth of room and board as a dorm supervisor through a work-study program   How much income must Henry report on his tax return? a.$4,000 b.$0 c.$5,000 d.$6,000 e.$10,000