Lisa would like to claim her granddaughter, Denisha, as her qualifying child so she can...

70.2K

Verified Solution

Question

Accounting

Lisa would like to claim her granddaughter, Denisha, as her qualifying child so she can claim the Earned Income Tax Credit (EITC). However, Denisha's mother, Taya, is also eligible to claim Denisha as her qualifying child for EITC purposes. As Lisa's tax preparer, what information would you share with Lisa?

A. As long as Lisa files before Taya, she may claim EITC based on Denisha, her qualifying child.

B. Taya holds a higher right and may claim EITC based on Denisha, because Taya is Denisha's parent.

C. Lisa may claim EITC based on Denisha if her adjusted gross income was higher than Taya's.

D. Lisa and Taya may agree to each claim one half of the EITC based on Denisha, their qualifying child.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students