CAF-2 · Chapter 14 · Question 14 of 15
When filing a wealth statement, under what exact condition must a resident individual include the assets and liabilities of their spouse?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) C) Only if the spouse is dependent on the taxpayer.
Explanation
The wealth statement must include the assets of the person’s spouse, minor children, and other dependents. The law specifically clarifies that the assets of the spouse shall only be included in the wealth statement of the person if the spouse is dependent.
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