Your clients, Adam and Amy Accrual, have a 21-year-old daughternamed April. April is single...

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Accounting

Your clients, Adam and Amy Accrual, have a 21-year-old daughternamed April. April is single and is a full-time student studyingfor her bachelor’s degree in accounting at California Poly Academy(CPA) in Pismo Beach, California, where she lives with herroommates year-round. Last year, April worked at a local bar andrestaurant four nights a week and made $18,000, which she used fortuition, fees, books, and living expenses. Her parents help Aprilby sending her $300 each month to help with her expenses atcollege. This is all of the support given to April by her parents.When preparing Adam and Amy’s tax return, you note that they claimApril as a dependent for tax purposes. Adam is insistent that theycan claim April because of the $300 per month support and the factthat they “have claimed her since she was born.” He will not letyou take April off his return as a dependent. Would you sign thePaid Preparer’s declaration (see example above) on this return? Whyor why not?

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Answer To guarantee a child as a dependent the child must be either underneath age of 19 or if a student then below 24 years In the event that the citizen or his mate is considered as a See Answer

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In: AccountingYour clients, Adam and Amy Accrual, have a 21-year-old daughternamed April. April is single and...Your clients, Adam and Amy Accrual, have a 21-year-old daughternamed April. April is single and is a full-time student studyingfor her bachelor’s degree in accounting at California Poly Academy(CPA) in Pismo Beach, California, where she lives with herroommates year-round. Last year, April worked at a local bar andrestaurant four nights a week and made $18,000, which she used fortuition, fees, books, and living expenses. Her parents help Aprilby sending her $300 each month to help with her expenses atcollege. This is all of the support given to April by her parents.When preparing Adam and Amy’s tax return, you note that they claimApril as a dependent for tax purposes. Adam is insistent that theycan claim April because of the $300 per month support and the factthat they “have claimed her since she was born.” He will not letyou take April off his return as a dependent. Would you sign thePaid Preparer’s declaration (see example above) on this return? Whyor why not?