Reference no: EM132703221

Problem 1: The Child and Dependent Care Expenses tax credit is a __________credit in California.

Select one:

a. non-refundable

b. Actual

c. refundable

d. revocable

Problem 2: Tax law allows parents' election to report a child's interest and dividend income from children under age 19 or a student under age 24 on their own tax return. Which of the following statements is false regarding this election?

Select one:

a. The tax on minors is sometimes referred to as the "Kiddie Tax".

b. The election to include the child's income on the parents' return applies to both earned and unearned income.

c. The election to include the child's income on the parents' return was designed to keep parents from shifting investment income to their children to take advantage of the child's lower tax bracket.

d. For taxable years beginning on or after January 1, 2010, California law conforms to federal law which allows parents' election to report a child's interest and dividend income from children under age 19 or a student under age 24 on their tax return.