Question
20. EARNED INCOME CREDIT: For Each of the following situations, compute the taxpayer's 2019 earned income credit. a. Patty and Ron Barnett file a joint
20. EARNED INCOME CREDIT: For Each of the following situations, compute the taxpayer's 2019 earned income credit.
a. Patty and Ron Barnett file a joint return, claiming their two sons, ages 3 and 5, as dependents. The Barnetts' AGI is $14,400, which consists entirely of Ron's wages.
b. Joseph is a 25-year-old graduate.His gross income consists of $5,000 of wages and $80 in interest from a savings account. Joseph files as single and claims no dependents.
c. Suzanne and Vernon Zimmerman files a joint return, claiming her 6-year-old daughter as a dependent. The Zimmermans AGI consist of Vernon's $26,375 in wages and $400.00 in dividend income.
d. Sarah files head of household, claiming her 2-year-old son as a dependent. Sarah's AGI consists of $18,000 in wages and $3,620 in interest income.
20. Earned Income Credit. (Obj. 2) For each of the following situations, compute the taxpayer's 2019 eamed income credit. a. Patty and Ron Barnett file a joint return, claiming their two sons, ages 3 and 5, as dependents. The Barnetts' AGI is $14,400, which consists entirely of Ron's wages. b. Joseph is a 25-year-old graduate student His gross income consists of $5,000 of wages, and $80 in interest from a savi Joseph files as single and claims no dependents Suzanne and Vernon Zimm as a dependent. The Zimmer in dividend income. at return, claiming their 6-year-old daughter consists of Vernon's $26,375 in wages, and $400 d. Sarah files as head of household, claiming her 2-year-old son as a dependent. Sarah's AGI consists of $18,000 in wages and $3,620 in interest incomeStep by Step Solution
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