Match the Statements That Relate to Each Other

question 49

Multiple Choice

Match the statements that relate to each other.Note: Some choices may be used more than once.
-Kiddie tax applies

• A)Not available to 65-year old taxpayer who itemizes.
• B)Exception for U.S.citizenship or residency test (for dependency exemption purposes).
• C)Largest basic standard deduction available to a dependent who has no earned income in 2019.
• D)Considered for dependency purposes.
• E)Qualifies for head of household filing status.
• F)A child (age 15) who is a dependent and has only earned income.
• G)Considered in applying gross income test (for dependency exemption purposes).
• H)Not considered in applying the gross income test (for dependency exemption purposes).
• I)Unmarried taxpayer who can use the same tax rates as married persons filing jointly.
• J)Exception to the support test (for dependency exemption purposes).
• K)A child (age 16) who is a dependent and has only unearned income of $4,500.
• L)No correct match provided.

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Definitions:

Auction Markets

Markets where buyers bid for products or services, with the highest bidder winning the item, such as stock exchanges.

TSX

The Toronto Stock Exchange, which is the largest stock exchange in Canada and the ninth largest in the world by market capitalization.

NASDAQ

A global electronic marketplace for buying and selling securities, as well as the benchmark index for U.S. technology stocks.

Over-The-Counter Market

A decentralized market where securities not listed on major stock exchanges are traded directly between parties.