UIUC ACCY 561 Taxes and Business Strategy Chapter 6 Study Questions Test: Attempt review | Surgent ITS Grade 9.00 out of 10.00 (90%) 2025 verified submission Status Finished Started Thursday, July 31, 2025, 3:55 PM Completed Thursday, July 31, 2025, 3:57 PM Duration 2 mins 26 secs Points 18.00/20.00 Grade 9.00 out of 10.00 (90%) Feedback Congratulations!
Question 1 Correct 1.00 points out of 1.00
Matt and Heather are not sure if they qualify to claim the child tax credit. Which of the following would prevent their dependent from being considered a qualifying child for purposes of the child tax credit in the tax year 2023? Select one: a.
The dependent has one of the following relationships to the taxpayer: Son or daughter, or stepbrother or stepdaughter Brother or sister, or stepbrother or stepsister Adopted child Any descendant of any of the above (for example, grandchild) Eligible foster child
b.
The dependent is a citizen or resident of the United States.
c.
The dependent lived with the taxpayer for more than half of the year.
d.
The dependent was age
Correct. A child that was 17 or older at the end of the year was not a qualifying child for
17 or older at the end of
purposes of the child tax credit. The child is required to have been under age 17 at the end of
the year.
the 2023 tax year.
Question 2 Correct 1.00 points out of 1.00
Jack and Carolyn have three children, ages five, nine, and 18. Their modified AGI is $85,000 on their joint tax return. Their tax liability is $6,684. What is the amount of their child tax credit/credit for other dependents (assuming they otherwise qualify for these credits) for the tax year 2023? Select one: a.
$6,600
b. $6,000 c.
$6,684