Jose is unmarried with no qualifying children. He has $8,800 of 2019 wages and is otherwise eligible

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Jose is unmarried with no qualifying children. He has $8,800 of 2019 wages and is otherwise eligible for the earned income credit. Jose has $200 of interest income and no (or AG1 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 $3,700 during the taxable year?

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Federal Taxation 2020 Comprehensive

ISBN: 9780135196274

33rd Edition

Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse

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Question Posted: Jul 02, 2020 01:26 AM

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Jose is unmarried with no qualifying children. He has $8,800 of 2019 wages and is otherwise eligible

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a Tentative EIC 765 x 6920 529 b Phaseout 765 x 9...View the full answer

Federal Taxation 2020 Comprehensive

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