A Taxpayer May Qualify for the Credit for Child and Dependent

question 23

True/False

A taxpayer may qualify for the credit for child and dependent care expenses if the taxpayer's dependent is under age 17.

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Definitions:

Homestead Exemption

A law permitting a debtor to retain the family home, either in its entirety or up to a specified dollar amount, free from the claims of unsecured creditors or trustees in bankruptcy.

Bankruptcy Law

The area of law that deals with the rules and processes through which individuals or businesses can eliminate or reorganize their debts under the jurisdiction of a federal bankruptcy court.

Debtors

Individuals or entities that owe money to another individual or entity.

Creditors

Individuals or entities to whom money is owed by a debtor.