The Amount of Expenditures Eligible for the Child and Dependent

question 17

Multiple Choice

The amount of expenditures eligible for the child and dependent care credit is the least of three amounts. Which of the following is not one of those amounts?

• A)The total amount of child and dependent care expenditures for the year
• B)$3,000 for one qualifying person or $6,000 for two or more qualifying persons
• C)The dependent's earned income for the year
• D)The taxpayer's earned income for the year

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Definitions:

Warranty Action

Legal action taken to enforce the terms of a warranty, which is a guarantee provided by a seller to a buyer regarding the condition of a product.

Negligence

The failure to exercise the care that a reasonably prudent person would exercise in similar circumstances, leading to unintended harm or damage.

Proximately Caused

Refers to an event sufficiently related to a legally recognizable injury to be held as the cause of that injury.

Horizontal Privity

A legal term referring to the relationship between parties with coordinating interests in a property, often in lease agreements.