Which of the Following Statements Regarding the Difference Between the Requirements

question 88

Multiple Choice

Which of the following statements regarding the difference between the requirements for a qualifying child and the requirements for a qualifying relative is false?

• A) Qualifying children are subject to age restrictions while qualifying relatives are not.
• B) Qualifying relatives are subject to a gross income restriction while qualifying children are not.
• C) The relationship requirement is more broadly defined (more inclusive) for qualifying relatives than for qualifying children.
• D) The support test for qualifying relatives focuses on the support the potential dependent self-provides while the support test for qualifying children focuses on the support the taxpayer provides.

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Definitions:

Operating Lease

A lease agreement allowing a company to use an asset without the risks of ownership, like an asset's obsolescence.

Lessee

The party in a lease agreement who receives the right to use an asset from the lessor in exchange for payment.