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Matt and Shanekwa, ages 45 and 44, respectively, file a joint tax return for 2005. They provided all of the support for their 24-year-old son, who had $2,500 of gross income. Their 23-year-old daughter, a full-time student until her graduation on June 14, 2005, earned $6,000, which was 45% of her total support during 2005. Her parents provided the remaining support. Matt and Shanekwa also provided total support for Shanekwa's father who is a citizen and life-long resident of Portugal. How many personal and dependency exemptions can Matt and Shanekwa claim on their 2005 income tax return?

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Accounting Basics, Accounting

Category:- Accounting Basics
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