Mary Lou is a 22-year old student at Wilson College. She earned $4,300 at a summer job, which is less than half of her support.
I.Mary Lou can claim a $500 family tax credit for herself even if her parents claim a $500 family tax credit as a dependent.
II.Because Mary Lou is a full-time college student, and she provides less than half of her own support, her parents can claim a $500 family tax credit because she is their dependent.

Question

Mary Lou is a 22-year old student at Wilson College. She earned $4,300 at a summer job, which is less than half of her support.
I.Mary Lou can claim a $500 family tax credit for herself even if her parents claim a $500 family tax credit as a dependent.
II.Because Mary Lou is a full-time college student, and she provides less than half of her own support, her parents can claim a $500 family tax credit because she is their dependent.
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Quizplus · Accepted Answer

Statement II is correct because Mary Lou is a full-time college student and provides less than half of her own support, so she can be claimed as a dependent by her parents. However, Statement I is incorrect because Mary Lou cannot claim the $500 family tax credit for herself if her parents claim the same credit for her as a dependent. Only one $500 credit can be claimed per qualifying dependent.

Mary Lou Is a 22-Year Old Student at Wilson College