Kyle and Liza are married and under 65 years of age.During 2016,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 2015.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 3,2016,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 these

Question

Quizplus · Accepted Answer

Kyle and Liza can claim the following exemptions:
- One personal exemption for Kyle
- One personal exemption for Liza
- One dependency exemption for their daughter May, since they provide more than half of her support and she is under 19 years old (or under 24 years old and a full-time student)
- One dependency exemption for Kyle's cousin, since they provide more than half of his support and he is not a qualifying child
- One dependency exemption for Liza's father, since he passed away during the tax year and was considered their dependent for most of the year.

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