Which of the Following Statements Concerning the Credit for Child

question 22

Multiple Choice

Which of the following statements concerning the credit for child and dependent care expenses is not correct?

• A)A taxpayer is not allowed both an exclusion from income and the credit for child and dependent care expenses on the same amount.
• B)A taxpayer is not allowed both a deduction as a medical expense and the credit for child and dependent care expenses on the same amount.
• C)If a taxpayer's adjusted gross income exceeds $43,000, the rate for the credit for child and dependent care expenses is 20%.
• D)If a taxpayer's adjusted gross income exceeds $15,000 but is not over $17,000, the rate for the credit for child and dependent care expenses is 35%.
• E)All of the above are correct.

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Definitions:

Camshaft Open

The period when the camshaft lifts the valve off its seat, allowing for air/fuel mixture intake or exhaust gas expulsion.

Smart Key

A device that allows for keyless entry and ignition of a vehicle, using radio frequency identification (RFID) technology to communicate with the car's locking mechanism.

Antitheft System

A security mechanism designed to deter or prevent unauthorized access or theft of a vehicle or its contents.

Push-to-start

A system allowing a vehicle to be started by pressing a button while the key fob is inside the vehicle.