TAXATION OF INDIVIDUALS+BUSINESS ENT.>C
20th Edition
ISBN: 9781307520422
Author: SPILKER
Publisher: MCG/CREATE
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Textbook Question
Chapter 4, Problem 35P
The Samsons are trying to determine whether they can claim their 22-year-old adopted son, Jason, as a dependent. Jason is currently a full-time student at an out-of state university. Jason lived in his parents’ home for three months of the year and he was away at school for the rest of the year. He received $9,500 in scholarships this year for his outstanding academic performance and earned $4,800 of income working a part-time job during the year. The Samsons paid a total of $5,000 to support Jason while he was away at college. Jason used the scholarship, the earnings from the part-time job, and the money from the Samsons as his only sources of support.
- a) Can the Samsons claim Jason as their dependent?
- b) Assume the original facts except that Jason’s grandparents, not the Samsons, provided him with the $5,000 worth of support. Can the Samsons (Jason’s parents) claim Jason as their dependent? Why or why not?
- c) Assume the original facts except substitute Jason’s grandparents for his parents. Determine whether Jason’s grandparents can claim Jason as a dependent.
- d) Assume the original facts except that Jason earned $5,500 while working parttime and used this amount for his support. Can the Samsons claim Jason as their dependent? Why or why not?
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Chapter 4 Solutions
TAXATION OF INDIVIDUALS+BUSINESS ENT.>C
Ch. 4 - How are realized income, gross income, and taxable...Ch. 4 - Prob. 2DQCh. 4 - Prob. 3DQCh. 4 - Why should a taxpayer be interested in the...Ch. 4 - Is it easier to describe what a capital asset is...Ch. 4 - Prob. 6DQCh. 4 - Prob. 7DQCh. 4 - Prob. 8DQCh. 4 - Prob. 9DQCh. 4 - How do taxpayers determine whether they should...
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