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Charlotte (age 40) is a surviving spouse and provides all of the support of her four minor children (ages 4, 8, 11, and 14) who

Charlotte (age 40) is a surviving spouse and provides all of the support of her four minor children (ages 4, 8, 11, and 14) who live with her. She also maintains the household in which her parents live and furnished 60% of their support. Besides interest on City of Miami bonds in the amount of $5,500, Charlotte's father received $2,400 from a part-time job. Charlotte has a salary of $80,000, a short-term capital loss of $2,000, a cash prize of $4,000 from a church raffle, and itemized deductions of $10,500. If an amount is zero, enter "$0".

A. Compute Charlotte's taxable income. $_______

B. Using the Tax Rate Schedules (click here), tax liability (before any allowable credits) for Charlotte is $________

C. Compute Charlotte's child and dependent tax credit. Charlotte's child tax credit is $_____ , of which $________ may be refundable and her dependent tax credit is $_____ of which $______may be refundable.

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