A6

Married taxpayers who file jointly can claim a dependent care credit even if only one of the taxpayers has earned income. O True O False QUESTION 15 What is the maximum amount that can be contributed to an employer sponsored plan in tax year 2021? O $19,500 O $6,000 O $7,000 O Lesser of $58,000 or 100% of the employee's compensation QUESTION 16 In which of the following situations would the recipient of a partnership interest take carryover basis? O When the interest is received as an inheritance. O When the interest is received as a gift. O When the interest is purchased in an arm's length transaction. O When the interest is generated in exchange for services rendered. QUESTION 17 Taxpayer pays foreign tax of $40. On Taxpayer's tax return, there is federal income tax due of $100 before considering any credits. Taxpayer has $250 of federal income tax withholding on their W-2. Based on this information, what amount of the foreign tax credit is allowed to be recognized on this tax return? O $100 $250 O $0 O $40