Determine the total allowable 2015 earned income credit in each of the following situations: a. Judy is

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Determine the total allowable 2015 earned income credit in each of the following situations:
a. Judy is single and earns $5,500 in salary for the year. In addition, she receives $2,300 in unemployment compensation during the year.
b. Monica is a single parent with 1 dependent child. She earns $12,500 from her job as a taxicab driver. She also receives $4,700 in child support from her ex-husband.
c. Paul and Yvonne are married and have 3 dependent children. Their earned income is $21,300, and they receive $3,500 in interest income from their savings account.
d. Hattie is married to Herbert, and they have 2 dependent children. During February, Herbert leaves and hasn't been seen or heard from since. Hattie earns $16,400 from her job. During January and February, Herbert earned $4,800, but Hattie has no idea how much he earned for the entire year.
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Concepts In Federal Taxation 2017

ISBN: 9781305965119

24th Edition

Authors: Kevin E. Murphy, Mark Higgins

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