Charlotte is the Lucas family's 22-year-old daughter.She is a full-time student at an out-of-state university but plans to return home when the school year ends.During the year,Charlotte earned $4,000 of income working part-time.Her support totaled $30,000 for the year.Of this amount,Charlotte paid $7,000 with her own funds,her parents paid $14,000,and Charlotte's grandparents paid $9,000.Which of the following statements most accurately describes whether Charlotte's parents can claim a dependency exemption for Charlotte?

Question

Quizplus · Accepted Answer

Charlotte is a qualifying child of her parents because she meets all the criteria for a qualifying child: she is under 19 years old (or under 24 and a full-time student), she lived with her parents for more than half the year, and she did not provide more than half her own support. Additionally, her income is below the threshold for the gross income test. Therefore, her parents can claim a dependency exemption for her.

Charlotte Is the Lucas Family's 22-Year-Old Daughter