I:14-58 Earned Income Credit. Jose is unmarried with no qualifying children. He has $9,500 of 2022 wages

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I:14-58 Earned Income Credit. Jose is unmarried with no qualifying children. He has $9,500 of 2022 wages and is otherwise eligible for the earned income credit. Jose has $200 of interest income and no for AGI deductions.

a. What is Jose’s tentative earned income credit before phaseout?

b. What is Jose’s allowable earned income credit?

c. If Jose has no income tax liability (before the earned income credit is subtracted), is he entitled to a refund for the current year?

d. Would your answer to Part b change if Jose had dividend and interest income of

$10,500 during the taxable year?

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Related Book For  book-img-for-question

Pearsons Federal Taxation Corporations Partnerships Estates And Trust 2023

ISBN: 9780137730391

36th Edition

Authors: KENNETH E. ANDERSON, DAVID S. HULSE, TIMOTHY J. RUPERT Richard J. Joseph LeAnn Luna

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