Matching Regarding Classification as a Dependent, Classify Each Statement in One

question 64

Multiple Choice

Matching
Regarding classification as a dependent, classify each statement in one of the four categories:
-A half-brother who lives with taxpayer.

• A)Could be a qualifying child.
• B)Could be a qualifying relative.
• C)Could be either a qualifying child or a qualifying relative.
• D)Could be neither a qualifying child nor a qualifying relative.

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Definitions:

Shares of the Business

Equity units of a corporation that represent ownership interest held by shareholders, giving them a claim on the company's profits in the form of dividends.

Stock

A type of financial security that signifies ownership in a corporation and represents a claim on part of the corporation's assets and earnings.