Bob, a full-time student, lives with his parents and provides less than half of his own support. Does he qualify as a qualifying child?

Bob qualifies as a qualifying child under the IRS criteria. To be considered a qualifying child, he must meet several tests: relationship, age, residency, support, and joint return.

In this scenario, Bob is a full-time student, which allows him to meet the age requirement as long as he is under 24 years old. Additionally, because he lives with his parents and provides less than half of his own support, he satisfies the support test. The residency test is also met as Bob lives with his parents for more than half of the year.

While there may be considerations regarding income levels, such as the $10,000 mentioned in one of the choices, qualifying as a child is primarily determined by the other tests outlined. Thus, Bob's situation meets all the necessary criteria, confirming that he can be claimed as a qualifying child by his parents under the tax laws.