Clay and Marian are married and will file a joint return.Marian is a U.S. citizen with a valid Social Security number. Clay is a resident alien with an Individual Taxpayer Identification Number (ITIN).Marian worked in 2022 and earned wages of $32,000. Clay worked part-time and earned wages of $18,000.The Washingtons have two children: Erin, age 12 and Jenny, age 18.The Washingtons provided the total support for their two children, who lived with them in the U.S. all year. Erin and Jenny are U.S. citizens and have valid Social Security numbers.8. The Washingtons do not qualify for the Earned Income Credit because Clay has an ITIN. TrueFalse

The department of IRS issues Individual Taxpayer Identification Numbers (ITINs) as tax processing…

Answered: The Washingtons do not qualify for the…

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter3: Tax Formula And Tax Determination : An Overview Of Property Transactions

Section: Chapter Questions

Problem 6CPA: Bill and Anne Chambers are married and file a joint return. They have no children. Their college...

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Clay and Marian are married and will file a joint return. Marian is a U.S. citizen with a valid Social Security number. Clay is a resident alien with an Individual Taxpayer Identification Number (ITIN). Marian worked in 2022 and earned wages of $32,000. Clay worked part-time and earned wages of $18,000. The Washingtons have two children: Erin, age 12 and Jenny, age 18. The Washingtons provided the total support for their two children, who lived with them in the U.S. all year. Erin and Jenny are U.S. citizens and have valid Social Security numbers. 8. The Washingtons do not qualify for the Earned Income Credit because Clay has an ITIN.

True

False

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Bill and Anne Chambers are married and file a joint return. They have no children. Their college friend Ryan lived with them for the entire current tax year. Ryan is 40 years old and earned 2,000 at a part-time job and received 25,000 in municipal bond interest. Ryan is a citizen of the United States and is unmarried. Which of the following statements is true regarding claiming Ryan as a dependent on the Chamberses tax return? a. If Ryan earns 15,000 in self-employment income in addition to the part-time job and municipal bond interest, he will qualify as a dependent on the Chamberses tax return. b. Ryan qualifies as a dependent for the Chamberses under the qualifying child rules. c. As long as Ryan does not provide more than half of his own support, he qualifies as a dependent for the Chamberses under the qualifying relative rules because he lived with them for the entire year. d. As long as the Chamberses provide more than half of Ryans support, he qualifies as a dependent for the Chamberses under the qualifying relative rules.
Robin and Howie file married filing jointly and have a 13 -year-old daughter. They also provide all the support for Howie's 82 -year-old mother, who lives in a nursing home nearby. The amount of the combined child tax credit and other dependent credit for Robin and Howie is: $0 $1,000 $1,500 $2,000 $2,500

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The Washingtons do not qualify for the Earned Income Credit because Clay has an ITIN. True False