During 2016, Lisa (Age 66) Furnished More Than 50% of the Support

question 9

Multiple Choice

During 2016, Lisa (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 Lisa claim?

• A)Two
• B)Three
• C)Four
• D)Five
• E)None of these

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Definitions:

Partial Taxes

involve taxation on specific goods, services, or transactions, as opposed to broad-based taxes.

Shifted

Describes a change in position, direction, or tendency, often referring to shifts in market conditions, consumer preferences, or economic indicators.

Partnerships

A business structure where two or more individuals manage and operate a business in accordance with the terms and objectives set out in a Partnership Agreement.

Corporate Profits Tax

A tax imposed on the net income or profit earned by corporations, which can affect investment decisions and economic growth.