Which of the Following Statements with Respect to the Tax

Which of the following statements with respect to the tax on split income (the "kiddie tax") is not correct?

A) For purposes of this tax, a "specified individual" is anyone who has not reached the age of 17 years before the beginning of the year.
B) The tax is applied at a 29 percent rate to all of the income of a specified individual.
C) Split income includes taxable dividends received from private companies.
D) The only tax credits that can be applied against the Tax Payable on split income are dividend tax credits and foreign income tax credits.
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