Kyle and Liza are married and under 65 years of age.During 2013,they furnish more than half of the support of their 19-year old daughter,May,who lives with them.She graduated from high school in May 2012.May earns $15,000 from a part-time job,most of which she sets aside for future college expenses.Kyle and Liza also provide more than half of the support of Kyle's cousin who lives with them.Liza's father,who died on January 3,2013,at age 90,has for many years qualified as their dependent.How many personal and dependency exemptions should Kyle and Liza claim?
A)Two.
B)Three.
C)Four.
D)Five.
E)None of the above.

Question

Quizplus · Accepted Answer

Kyle and Liza can claim two personal exemptions for themselves. They can also claim May as a dependent since they provide more than half of her support and she is under 19 years old (or under 24 and a full-time student). This is the third exemption. Kyle's cousin is also a dependent since they provide more than half of his support. This is the fourth exemption. Liza's father cannot be claimed as a dependent since he died in 2013. Therefore, the total number of exemptions they can claim is four.

Kyle and Liza Are Married and Under 65 Years of Age.During