Steven and Susie Tyler Have Three Dependent Children Ages 13,15,and

question 32

Multiple Choice

Steven and Susie Tyler have three dependent children ages 13,15,and 17.Their modified AGI is $108,000.What is the amount of the child credit to which they are entitled?

• A)$0
• B)$1,000
• C)$2,000
• D)$3,000

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Definitions:

Equity Securities

Financial assets representing ownership interest in a company, such as stocks.

Common Shares

Equity securities that signify ownership in a corporation and entitle the holder to a vote at shareholders' meetings and to receive dividends.

Preferred Shares

A class of ownership in a corporation that has a higher claim on its assets and earnings than common shares, often paid dividends before common shareholders.

Treasury Shares

Previously outstanding shares repurchased by a corporation that are not canceled or restored to unissued status.