Which of the Following Statements Regarding the Child and Dependent

question 119

Multiple Choice

Which of the following statements regarding the child and dependent care credit is true?

• A)A married couple must file jointly to claim the credit.
• B)A taxpayer may claim a credit for dependent care expenses for a dependent who is 14 years old or older but only if the dependent lives in the taxpayer's home for the entire year.
• C)All else equal, a taxpayer making qualifying expenditures for three children may claim more dependent care credit than a taxpayer making (the same amount of) qualifying expenditures for two children.
• D)None of the above statements is truE.Married taxpayers must file jointly and the credit is based on the income of the lesser-earning spouse.

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Definitions:

Dissolved

The process of legally terminating the existence of an entity, such as a corporation or partnership, according to the laws of the jurisdiction in which it is registered.

Capital Contribution

Money, assets, or other resources a partner or shareholder provides to a company or partnership to increase its capital.

LLC Statutes

Laws and regulations that govern the formation, operation, and dissolution of Limited Liability Companies within a jurisdiction.

Articles of Organization

The document filed with a state governmental body to legally form a limited liability company (LLC).