4

A Question 4 (1 point) Laura, a US citizen, has worldwide income of $200,000. Of this amount, $50,000 is from foreign sources. Her total US tax on all income is $30,000. She paid a total $8,000 of taxes to foreign governments on the foreign source income. What is the amount of Laura's foreign tax credit? DO NOT USE COMMAS OR DOLLARS IN YOUR ANSWER!! A Question 5 (1 point) Which of the following individuals would be eligible for at least some amount of the earned income tax credit? SELECT ALL THAT APPLY!!! (HINT: The last section of the Chapter 12 notes describes the earned income credit qualifications very closely. You should reread them thoroughly.)