A Dependent Child with Earned Income in Excess of the Available

question 98

True/False

A dependent child with earned income in excess of the available standard deduction amount must file a tax return.

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Definitions:

Gains and Losses

The financial increases (gains) or decreases (losses) in the value of an asset or investment from its purchase price, typically realized when the asset is sold.

Floating-Rate Debt

A type of debt instrument or loan whose interest payment varies with market interest rates.

Fixed-Rate Debt

A loan or security that has an interest rate that remains constant throughout the life of the loan, providing predictable repayment schedules.