Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Lisa would like to claim her granddaughter, Denisha, as her qualifying child so she can claim the Earned Income Tax Credit (EITC). However, Denisha's mother,
Lisa would like to claim her granddaughter, Denisha, as her qualifying child so she can claim the Earned Income Tax Credit (EITC). However, Denisha's mother, Taya, is also eligible to claim Denisha as her qualifying child for EITC purposes. As Lisa's tax preparer, what information would you share with Lisa? As long as Lisa files before Taya, she may claim EITC based on Denisha, her qualifying child. Taya holds a higher right and may claim EITC based on Denisha, because Taya is Denisha's parent. Lisa may claim EITC based on Denisha if her adjusted gross income was higher than Taya's. Lisa and Taya may agree to each claim one half of the EITC based on Denisha, their qualifying child. D Lisa would like to claim her granddaughter, Denisha, as her qualifying child so she can claim the Earned Income Tax Credit (EITC). However, Denisha's mother, Taya, is also eligible to claim Denisha as her qualifying child for EITC purposes. As Lisa's tax preparer, what information would you share with Lisa? As long as Lisa files before Taya, she may claim EITC based on Denisha, her qualifying child. Taya holds a higher right and may claim EITC based on Denisha, because Taya is Denisha's parent. Lisa may claim EITC based on Denisha if her adjusted gross income was higher than Taya's. Lisa and Taya may agree to each claim one half of the EITC based on Denisha, their qualifying child. D
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started