Which of the Following Statements Regarding the Child and Dependent

question 19

Multiple Choice

Which of the following statements regarding the child and dependent care credit is false?

• A) Taxpayers may claim a credit for only a portion of qualifying dependent care expenditures.
• B) A taxpayer is not eligible to claim the dependent care credit if any dependent relative provides the care.
• C) If a taxpayer's income is too high, she will be ineligible to claim any child and dependent care credit.
• D) A single taxpayer must have earned income to claim any child and dependent care credit.

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Definitions:

Voucher System

A control mechanism in accounting where vouchers are used to authorize the disbursement of cash and record financial transactions.