Answered step by step
Verified Expert Solution
Question
1 Approved Answer
8. David and Lilly Fernandez have determined their tax liability on their joint tax return to be $2,100. They have made prepayments of $1,900, they
8. David and Lilly Fernandez have determined their tax liability on their joint tax return to be $2,100. They have made prepayments of $1,900, they receive a child tax credit of $500, and a recovery rebate credit of $2,900 (they did not receive this in advance). What is the amount of their tax refund or taxes due?
What is the amount of their tax refund or taxes due?
Description | Amount | |
1 | Total Tax | 2100 |
2 | Child Tax Credit | 200 |
3 | Prepayments | 1900 |
3 | Recovery Rebate Credit | |
Tax Refund |
Need help finding Recovery Rebate Credit and Tax Refund. The answer I got previously for the tax refund was 3200 and that was incorrect.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started