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Chapter 8 Homework Income Tax Credits (LO. 6) Neville and Julie are married and have two children ages 19 and 14. Their adjusted gross income
Chapter 8 Homework Income Tax Credits (LO. 6) Neville and Julie are married and have two children ages 19 and 14. Their adjusted gross income for the year is $85,100. Round all calculations (including all fractions) up to the next whole number. a. Neville and Julie can claim as a child credit. b. They can claim $1 for the child credit if their children are ages 16 and 13. c. Assume the same facts as part a except that their adjusted gross income is $418,200. Neville and Julie are allowed a child credit of $ Their child credit is reduced by $ due to their adjusted gross income
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