TRUE OR FALSE?

$-$ One limitation of the timing strategy is the difficulties in accelerating a tax deduction without accelerating the actual cash outflow that generates the tax deduction.

$-$ All capital gains are taxed at preferential rates.

$-$ To be considered a qualifying child of a taxpayer, the individual must be the son or daughter of the taxpayer.

$-$ An individual with gross income of $$6,000$ could qualify as a qualifying child of another taxpayer but could not qualify as a qualifying relative of another taxpayer.

$-$ Taxpayers need not include an income item in gross income unless there is a specific tax provision requiring the taxpayer to include the income item in gross income.

$-$ Taxpayers may prepay their tax liability through withholdings and through estimated tax payments.

$-$ In addition to raising revenues, specific U$.$S$.$ taxes may have other objectives $($e$.$g$.,$ economic or social objectives$).$

$-$ In certain circumstances a child with very little income may have at least a portion of their income taxed at the parents$$ marginal tax rate.

$-$ Realized income is included in gross income unless a tax provision specifies that it can be deferred or excluded.