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

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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 Ryan’s support, he qualifies as a dependent for the Chamberses under the qualifying relative rules.

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Related Book For  answer-question

South-Western Federal Taxation 2020 Comprehensive

ISBN: 9780357109144

43rd Edition

Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman

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