Which one of the following will disqualify an individual from qualifying for the child and dependent care credita.Unearned income of $400b.Paying for care for more than one qualifying personc.Paying for child care while looking for workd.Not identifying the care provider on the tax return
Question
Which one of the following will disqualify an individual from qualifying for the child and dependent care credita.Unearned income of $400b.Paying for care for more than one qualifying personc.Paying for child care while looking for workd.Not identifying the care provider on the tax return
Solution
The option that will disqualify an individual from qualifying for the child and dependent care credit is "d. Not identifying the care provider on the tax return".
Here's why:
a. Unearned income of $400: This will not disqualify an individual. The IRS does not have a limit on unearned income for this credit.
b. Paying for care for more than one qualifying person: This will not disqualify an individual. In fact, the credit can be claimed for expenses related to the care of two or more qualifying persons.
c. Paying for child care while looking for work: This will not disqualify an individual. The IRS allows this credit for individuals who are working or looking for work, as long as the care is for a qualifying person.
d. Not identifying the care provider on the tax return: This will disqualify an individual. The IRS requires that you identify all care providers on your tax return when claiming this credit.
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