Tab and Sharon are married and under 65 years of age. During 2015, they furnish more than half of the support of Sean, Carla, and Cheryl. Sean is Tabs 25-year old son by PRIOR MARRIAGE and is a full time student in law school. Sean earned $10,000 as a law clerk. This is Seans only source of income. Carls gross income is $1,500 and Cheryls gross income is $1,800. Sean is a member of Tabs household. Carla is TBS former mother-in-law and lives in another state. Cheryl is unrelated and a close friend of Sharons family. She lives with Tab and Sharon. How many personal and dependency exemptions should Tab and Sharon clam?

2

3

4

5

None of the above

Belle, age 65 is claimed as a dependent on her sons tax return. During 2017, she had interest income of $2000 and $750 of earned income from baby-sitting. Belles taxable income is??

50

100

1350

1550

None of the above.

During the current year, Freda was entirely supported by her three children, Michelle, Brian, and John, who provided support in the following percentages.

Michelle 43%

Brian 48%

John 9%

Which of the following children is entitled to claim their mother as a dependent assuming a multiple supporting agreement exists?

Michelle or Brain

Michelle or john

Brian or John

Michelle, Brain or John

None of above

Which choice is correct and true with respect to the personal and dependency exemption phaseout rules for high-income taxpayers:

a) Phaseout rules only apply to personal exemption.

b) Phaseout rules only apply to dependency exemption.

c) Both Personal exemption and dependency exemption.

D) A maximum of 85% of the personal and dependency exemption can be phaseout.

e) None of the above.