Question
1) Mary files Single. Her AGI is $162,000. She paid $5,000 in tuition and books for her son who attends college. How much can she
1) Mary files Single. Her AGI is $162,000. She paid $5,000 in tuition and books for her son who attends college. How much can she take of the American Opportunity Tax Credit ?
2) Joe's taxable income is $40,000 including $5,000 of long term capital gains. What is his tax?
3)Jill files as head of household. She has a daughter 12 yrs old. Her AGI is $220,000. How much can she take as Child Care Credit ?
4) John files Single . His only source of income for 2021 were earnings of $30,000. He has 1 qualifying child. What is his Earned Income Tax Credit for 2021?
5) Sara's net earnings from self employment were $120,000 . How much in self employment tax doe she owe ? What is her deduction for self employment taxes paid?
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