Examlex

Solved

Kyle and Liza Are Married and Under 65 Years of Age.During

question 93

Multiple Choice

Kyle and Liza are married and under 65 years of age.During 2019, they furnish more than half of the support of their 19-year old daughter, Kendra, who lives with them.She graduated from high school in May 2018.Kendra earns $15,000 from a part-time job, most of which she sets aside for future college expenses.Kyle and Liza also provide more than half of the support of Kyle's cousin who lives with them.Liza's father, who died on January 3, 2019, at age 90, has for many years qualified as their dependent.How many dependents can Kyle and Liza claim?


Definitions:

Economic Downturn

A period of decline in economic activity, characterized by reduced spending and increased unemployment.

Funding Reduction

A decrease in the financial resources allocated to a program, organization, or project, often leading to operational challenges.

Service Need

A requirement for assistance or support, typically in a community or among individuals, that organizations aim to address.

Philanthropic Foundations

Nonprofit organizations that primarily distribute or support charitable activities through the funding of grants, scholarships, or direct support to other nonprofits.

Related Questions