Tax Preparation Filing Status and Dependents 3

Question 1

A college student who lives at home and earns $4,000 in wages. Can the parents claim the student as a dependent?

Accepted Answer

Yes, if the student is under 24 and a full-time student

Answer

No, because the student earned income

Answer

No, the student must file their own return

Answer

Yes, only if the student earns under $1,000

Question 2

Which filing status has the lowest tax rates in the US tax brackets?

Accepted Answer

Married Filing Jointly

Answer

Single

Answer

Head of Household

Answer

Married Filing Separately

Question 3

A taxpayer is claimed as a dependent by their parents. Can they still file their own tax return?

Accepted Answer

Yes, and they can also claim the standard deduction for dependents

Answer

No, dependents cannot file returns

Answer

Yes, but they cannot claim a personal exemption

Answer

No, their income is reported on the parent's return

Question 4

What is the residency test requirement for a qualifying child?

Accepted Answer

Must live with the taxpayer for more than half the year

Answer

Must live with the taxpayer all year

Answer

Must live with the taxpayer for at least 3 months

Answer

Must have the same permanent address as the taxpayer

Question 5

A taxpayer supports their sibling who lives with them and earns $5,000. Which test prevents claiming the sibling as a qualifying relative in 2024?

Accepted Answer

Gross income test

Answer

Relationship test

Answer

Support test

Answer

Residency test

Question 6

Which of the following individuals qualifies as a dependent under the qualifying child rules?

Accepted Answer

A 23-year-old child who is a full-time student

Answer

A 20-year-old sibling who works full-time

Answer

A 19-year-old cousin who lives with the taxpayer

Answer

A 17-year-old niece who does not live with the taxpayer