Student name: TRUE/FALSE - IVrite ' T ' if the statement is true and ' F ' if the statement is false. 1) Interest eamed on U.S, savings bonds is interest received at sale or maturity but must be taxed amually. true false 2) Qualified dividends are always taxed at a 15 pereent preferential rate. true false 3) Two advantages of investing in capital assets are 1. gains are generally deferred 2. gains are generally taxed at preferential rates. true false 4) Dave and Jane file a joint retum. They sell a capital asset at a $150,000 loss. Even though they have no capital gains, $6,000 of the loss can still be deducted in the current year. true false 5) The child tax credit is subject to phase-out based on the taxpayer's AGI. true false 6) John and Sally pay Janet (Sally's older sister) to watch John and Sally's child Dexter during the day. Janet cares for Dexter in her home. John and Sally may claim a child and dependent care credit based on the amount they pay Janet to care for Dexter. true false 7) The American opportunity tax credit and lifetime leaming credit are available to all taxpayer regardless of their income level. true false 8) To qualify for the earned income credit, the taxpayer must have a qualified dependent. true false