14. All of the following are deductions that can be forand on Schodule A frevpl: a. State and local taves 5. Interest on student loans c. Charitable contributions d. Casualty and thef losses 15. Which of the following statements about refundable tax credits is (are) correct? 1. They are more valuable than tax deductions. II. They allow tax refunds for poople who owe no tixes. a. 1 only b. Il omly c. Both I and II d. Ncither I nor II 16. Which of the following statements concerning Circular 230 is (are) correct? 1. It requires you to furn a client into the IRS if they are overstating their charitable contributions. II. It requires you to perform due diligenee when preparing a elient's tas tcturn. A. I only B. II only C. Both I and II D. Neither I nor II 17. Whach of the following children is (are) an cligible child for the purposes of the adoption credit? 1. Al who is 14 years old II. Bob who is 26 years old and is considered to have spectal needs a. I only b. II only c. Both I and II d. Neither I nor II 18. In the current year your clients have 2 dependent children ages 6 , and 12 . They are married filing jointly with an adjusted gross income of $420,000. As you know the phase out for the child tax credit begins at $400,000. As you also know the credit would be $4,000($2,000 per child) if nothing was phased out. What is the amount of tax credit they will be allowed to take? a. $500 b. $1,000 c. $1,500 d. None of the above