Tobe Is a 22- Year- Old College Student with $5,000

question 394

Multiple Choice

Tobe is a 22- year- old college student with $5,000 of interest income and $6,000 of earned income. Kiddie tax will apply to him if

• A) he is a part- time student and the cost of his support exceeds $12,000.
• B) he is a full- time student and the cost of his support exceeds $12,000.
• C) he is a part- time student and the cost of his support is $12,000 or less.
• D) he is a full- time student and the cost of his support is $12,000 or less.

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Definitions:

Importance

The state or quality of being significant, valued, or necessary in a particular context or to a particular person or group.

Education Level

The highest degree or level of school completed by an individual, often used as a demographic variable in market segmentation and research.

Occupation

A person's job or profession, often defining one's skills and economic contribution.

Income

The monetary amount received on a regular basis for work or through investments.