Which of the following individuals or couples qualify for the 2016 earned income credit?
I.Dennis is single and 25 years old.He is a recent graduate of Holly Technical College.During the year,Dennis cannot find a full-time job,but makes $7,000 as a waiter.
II.Matthew and Joan,are both 27,married,and have two children.Joan attends medical school while Matthew stays home with the children.Joan also works part-time at the hospital and earns $9,000.In addition,Joan inherits a substantial amount of money from her grandfather,which pays $5,000 of interest during the year.

Question

Which of the following individuals or couples qualify for the 2016 earned income credit?
I.Dennis is single and 25 years old.He is a recent graduate of Holly Technical College.During the year,Dennis cannot find a full-time job,but makes $7,000 as a waiter.
II.Matthew and Joan,are both 27,married,and have two children.Joan attends medical school while Matthew stays home with the children.Joan also works part-time at the hospital and earns $9,000.In addition,Joan inherits a substantial amount of money from her grandfather,which pays $5,000 of interest during the year.
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Quizplus · Accepted Answer

Only statement I is correct because Dennis is a single individual who earned less than $14,880 in 2016, which is the maximum income limit to qualify for the earned income credit. Statement II is not correct because Joan's inheritance income does not count towards the earned income credit and their combined income is not within the income limit for the credit.

Which of the Following Individuals or Couples Qualify for the 2016