QUESTION 49 1. Which of the following is not true of health savings accounts? Distributions are taxable with a 20% penalty regardless of the taxpayer's age. Taxpayer must be covered by a high deductible health insurance plan. Distributions are not taxable if used for medical expenses. Contributions within certain dollar limits are deductible for AGI. QUESTION 50 1 Which of the following is true of Section 1244 small business stock? The corporation may be a Cor corporation. The stockholder must have acquired the stock from the corporation for money, property, or services, The stock must be held for more than 5 years to receive the most favorable tax treatment Section 1244 tax treatment applies to gains and losses. C QUESTION 51 1. Mary is a single mother with 2 children: Ted, age 14, and Cindy, age 10. Her adjusted gross income (AGI) is $60,000. In the current year, Mary spent $2,000 for after-school care for Ted and $4,000 for after- school care for Cindy. What is Mary's dependent care credit for the current year? $600 $1,200 CCCC $1,000 $800 $0