1.Tom and Megs Joint tax return for 2015 shows $46000 of AGI. During the year, Tom contributed $3000 to his IRA and Meg contributed $1500 to her IRA. What amount of tax credit is available for these contributions?

2.Compute the child tax credit for each of the following taxpayers.

a. Jack is married but does not file a joint return with his spouse. Bennett claims his 6-year-old son as a dependent and fi les as head of household under the abandoned spouse rules. Bennetts AGI is $85,440.

b. Eren is divorced. She and her ex-husband share custody of their four children, ages 2-8, but Eren is the custodial parent. She has not signed away her right to claim the children as dependents. Her AGI is $95,694.

c. Michelle Dorrin is 43-years old and a single parent. She claims dependency exemptions for her three children, ages 9, 14 and 17. Her AGI is $123,639.

d. Randy and Tammy OBrien file a joint return. Tammys 16-year-old sister lives with them the entire year. Th ey claim the sister and their 2-year-old daughter as dependents. The OBriens AGI is $145,800.

3.Compute the child tax credit for each of the following taxpayers.

a. Jay and Marie Stockton fi le a joint return and claim their three children, all under age 17, as dependents. The Stocktons AGI is $121,400.

b. Tom Stevenson fi les as head of household. He claims his twin sons, age 4, as dependents. Stevensons AGI is $80,340.

c. Jennifer Thompson fi les as head of household. She claims her 12-year-old daughter as a dependent. Thompsons AGI is $78,450.

4.Pat and Diedra Dobson file a joint tax return for 2015. The Dobsons AGI equals $30,700, of which $27,300 is taxable wages. The Dobsons take the standard deduction and claim dependency exemptions for their two teenage children, ages 13 and 15. Other than the child tax credit, the Dobsons do not claim any nonrefundable personal tax credits. Compute the Dobsons nonrefundable and refundable child tax credit.

5.During 2015, Maureen installed a solar hot water heater and energy efficient exterior windows to improve her main home. The cost for these items was $2350 and $5500. Respectively. Compute Maureens residential energy efficient property credit.

6.John and Mary Hoppe paid $15,000 in qualified adoption expenses of a healthy child for an adoption that was finalized in 2015. The Hoppes modified AGI is $223,332. In addition, John received $3,000 from an employer adoption assistance plan. Compute the Hoppes adoption credit.

7.In 2014, a couple paid $6,000 in qualified adoption expenses to adopt a child that is a U.S. citizen. In 2015, they paid an additional $4,200 in qualified adoption expenses. The adoption was finalized in 2015.

a. Compute the couples adoption credit if their modified AGI in both years is $115,000. In what year(s) is the credit taken?

b. How would your answer to Part a. change if the couples modified AGI was $218,910 in both years?

c. How would your answer to Part a. change if the couple adopted a child with special needs?

d. How would your answer to Part a. change if the adoption fell through?