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Vaselesa [24]
3 years ago
13

Frank age 63 is single and provided all of the support for his daughter Anna age 24 and her son Marvin age 6. Neither Anna nor M

arvin lived with Frank at any time during the year. Anna was a full time student for 6 months of the year. She earned $8000 in wages and had no other income. Anna will file a return to get EIC. Can Frank claim Marvin as a dependent?
Business
1 answer:
allsm [11]3 years ago
3 0

Frank cannot claim Anna or Marvin as a dependent.

Explanation:

Because Frank gives Anna and Marvin every support, support tests are straightforward.

Anna earns revenue in excess of $4200 and can not therefore be requested as dependent. In fact, Marvin does not stay with Frank and can not therefore be stated as dependent.

The income tax credit, EITC or EIC is a bonus to low- and moderate-income employers. To apply, you must fulfill certain criteria and file a tax report, even if you are not obliged to pay a bill. The level of tax you pay is lowered by the EITC and a refund is probable.

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Interest rate - A bank might want to loan a business structure 5000000 dollar at a n old financing cost of 6%.

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A percentage of the principal, or the amount loaned, is what a lender charges a borrower as interest. The annual percentage rate, or APR, is the usual unit used to express the interest rate on the a loan (APR). The amount earned from a savings account as well as certificate of deposit at a credit union or bank may also be subject to interest rates (CD). Interest on these deposit accounts is calculated as an annual percentage yield (APY). The borrower is essentially charged interest for the use of the asset. Cash, consumer products, vehicles, and real estate are all examples of lent assets. An interest rate can therefore be viewed as the "cost of money" because it increases the cost of borrowing the very same amount of money.

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