Question: Excluding those with disabilities, a child must be under the age of _______ at some time in the year to be an eligible child for

Excluding those with disabilities, a child must be under the age of _______ at some time in the year to be an eligible child for purposes of deducting child care expenses.

Question 7 options:

16

12

18

8

Question 8 (1 point)

Aaron, aged 65 and Abbie, aged 63 are married. Aaron received OAS of $4,000 and pension income of $65,000 from a plan that was sponsored by his former employer. If Aaron shares the maximum amount of pension income with Abbie, what will his Net Income For Tax Purposes be?

Question 8 options:

A.$32,500.

B.$34,500.

C.$36,500.

D.$69,000.

Question 9 (1 point)

Sandy gives a gift of $12,000 to each of the following people. Each of them used the money they received from Sandy to invest in shares of publicly trading companies. In which situation will the resulting dividend income NOT be attributed to Sandy?

Question 9 options:

A.The gift is to Sandy's long-time business partner.

B.The gift is to Sandy's wife.

C.The gift is to Sandy's 14 year old nephew.

D.The gift is to Sandy's 10 year old daughter.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!