Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Elizabth (27) is unmarried her young sister, Seraphina (21) lined with her all year. Both have a social security numbers that are valid for employment.

Elizabth (27) is unmarried her young sister, Seraphina (21) lined with her all year. Both have a social security numbers that are valid for employment. Seraphina is not a student. Elizabeth paid all of her own support and the household expenses. She paid 78% of Seraphina's support and Seraphima paid thw balance of her support. Seraphina ia not permanently and totally disabled. Elizabeth's 2021 earned income and AGI were $27,852 and her 2019 earned income was $24,393. Elizabeth did not have any foreign income or investment income. Seraphina's gross incomewas &3,793. Everyone listed is a U.S. citizen.
What is Elizabeth correct and most favorable 3021 filing status?
what is Seraphina dependency status for Elizabeth?
Is Elizabeth eligible to claim the child tax credit and or the other dependent credit for any potential dependent?
Is Elizabeth eligible to earned income credit?
Is Elizabeth eligible to utilize the 2019 lookback provision for the earned income credit?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cornerstones of Cost Management

Authors: Don R. Hansen, Maryanne M. Mowen

3rd edition

978-1285751788

Students also viewed these Accounting questions