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9 Problems Sed Help Save & Exit Submit Check my work Determine the amount of the Earned Income Credit in each of the following cases.
9 Problems Sed Help Save & Exit Submit Check my work Determine the amount of the Earned Income Credit in each of the following cases. Assume that the person or persons are eligible to take the credit. Use Table 9-3 Required: Calculate the credit using the formulas Note: For all requirements, do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. a A single person with earned income of $7.554 and no qualifying children b. A single person with earned income of $27,500 and two qualifying children. c. A married couple filing jointly with oamed income of $34,190 and one qualifying child Earned Income Credit < Prev 10 of 10 Next > Emor TABLE 9-3 Earned Income Credit Tax Year 2021 None Number of Eligible Children One Two Three or More EIC percentage 15:30% 34.0% For carned income up to $9,820 S 10,640 40.0% $14,950 45.0% $14,950 Maximum EIC $1,502 $3,618 $ 5,980 $6,728 Phaseout percentage 15.30% 15.98% 21.06% 21.06% For joint filers: Phaseout starts at earned income of $17.560 $25,470 $25,470 $ 25,470 Phaseout ends at earned income of $27,380 $ 48,108 $53,865 $ 57,414 For all other filers: Phaseout starts at earned income of $ 11,610 $ 19.520 $ 19,520 $ 19,520 Phaseout ends at earned income of $ 21,430 $42.158 $ 47,915 $51,464 The dollar amounts in the table are subject to annual adjustments for inflation
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