During 2011,Jen (Age 66)furnished More Than 50% of the Support

question 44

Multiple Choice

During 2011,Jen (age 66) furnished more than 50% of the support of the following persons: Presuming all other dependency tests are met,on a separate return how many personal and dependency exemptions may Jen claim?

• A) Two.
• B) Three.
• C) Four.
• D) Five.
• E) None of the above.

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Definitions:

NFP Organization

A not-for-profit organization (NFP) is a type of organization that does not earn profits for its owners. All the money earned by or donated to an NFP is used in pursuing the organization's objectives and keeping it operational.

Endowment Fund

A fund where the principal amount is kept intact while the investment income is used for specific purposes, often found in non-profits and educational institutions.

Principal Amount

The initial size of a loan or bond or the amount deposited, excluding any interest or earnings.

Scholarships

Financial aid awarded to students to help pay for education expenses, often based on academic achievement or other criteria.