Greg (45) and Penny (45) are married. Their sons, Theo (18) and Oliver (14), who are both high school students, lived with them all year. The boys received more than 50% of their support from their parents. Greg's wages were $52,000; Penny's wages were $38,750; Theo's gross income was $7,200; Oliver's was $350.Question 13 of 50.What is Greg's correct and most favorable 2019 filing status?O Single.O Married filing jointlyO Married filing separately.O Head of household.O Qualifying widow(er).O Mark for follow upQuestion 14 of 50.Do Greg and Penny meet the qualifications for claiming the Child Tax Credit/Additional Child Tax Credit or the Other Dependent Credit? Choose the best answer.O Greg and Penny may only claim the Child Tax Credit.O Greg and Penny may only claim the Other Dependent Credit.O Greg and Penny may claim both the Child Tax Credit and the Other Dependent Credit.O Mark for follow upQuestion 15 of 50.Is Greg eligible to claim and receive the Earned Income Tax Credit?O YesO No.O Mark for follow up

I am answering the first question as per company's policies. Filing status of an individual is…

Answered: Question 13 of 50. What is Greg's…

Question 13 of 50. What is Greg's corect and most favorable 2019 filing status? Single Married filing jointly. Married filing separately. Head of household. O Qualitying widower)

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter3: Tax Formula And Tax Determination; An Overview Of property Transactions

Section: Chapter Questions

Problem 9BCRQ

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Concept explainers

Filing Federal Income Tax Return

A tax is the amount of money paid to the government on the revenue earned by the individual or business organization. It acts as an income for the government and an expense for the individual or business organization. There are different regulations regarding filing an income tax return in other countries.

Question

Greg (45) and Penny (45) are married. Their sons, Theo (18) and Oliver (14), who are both high school students, lived with them all year. The boys received more than 50% of their support from their parents. Greg's wages were $52,000; Penny's wages were $38,750; Theo's gross income was $7,200; Oliver's was $350.
Question 13 of 50.
What is Greg's correct and most favorable 2019 filing status?
O Single.
O Married filing jointly
O Married filing separately.
O Head of household.
O Qualifying widow(er).
O Mark for follow up
Question 14 of 50.
Do Greg and Penny meet the qualifications for claiming the Child Tax Credit/Additional Child Tax Credit or the Other Dependent Credit? Choose the best answer.
O Greg and Penny may only claim the Child Tax Credit.
O Greg and Penny may only claim the Other Dependent Credit.
O Greg and Penny may claim both the Child Tax Credit and the Other Dependent Credit.
O Mark for follow up
Question 15 of 50.
Is Greg eligible to claim and receive the Earned Income Tax Credit?
O Yes
O No.
O Mark for follow up

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