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Definitions Match the following terms with the appropriate definition. Click on the term in the...

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Accounting

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Definitions Match the following terms with the appropriate definition. Click on the term in the left column first and then on the correct definition in the right column Clear All Kiddie tax To reduce the tax savings that result from shifting income from parents to children, the net unearned Income of a child under age 19 (or under age 24 if a full-time student) is taxed at special rates. Head of household Certain personal expenditures allowed by the Code as deductions from adjusted gross income Itemized deductions To qualify for a deper exemption, over 50 percent of the support of the potential dependent be provided by the taxpayer. Where no one person provides more than 50 percent of the support, this enables a taxpayer to still qualify for the dependency exemption if certain requirements are met. Marriage penalty An unmarried individual who maintains a household for another and satisfies certain conditions Multiple support agreement The additional tax liability that results for a married couple compared with what their tax Hability would be if they were not married and filed separate returns. Previous Next All work saved Submit Test for Grad

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