Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Chloe, age 48, divorced her husband in 2017 Chloe's 4 year old grandson, Marcus, has been living with her since his parents were incarcerated in

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Chloe, age 48, divorced her husband in 2017 Chloe's 4 year old grandson, Marcus, has been living with her since his parents were incarcerated in August 2019 Chloe provided all the su Chloe worked full time and earned $53,000. She received no other income in 2021 Marcus attends daycare while Chloe works. Chloe received a statement from the daycare provider showing she paid $5.900 for Marcus Chloe received the third Economic Impact Payment (EIP 3) of $2,800 in 2021 . Chloe received advance payments of the Child Tax Credit totaling $1,800 in 2021 Chloe and Marcus are both US citizens, lived in the United States all year, and have valid Social Security numbers. No one else went 4. After reconciling the advance payments, how much Child Tax Credit will Chloe be able to claim on her 2021 tederal income tax retum? OA. $3,600 OB. $3,000 OC. $2,000 OD. $1,800 Circular 230 - Scenario 2: Chloe Carlow - Question 1 of 3. s were incarcerated in August 2019. Chloe provided all the support for Marcus and all the costs of keeping up their home in 2021 20210 The daycare provider showing she paid $5,980 for Marcus' care for the year. She did not pay any 2020 expenses in 2021 21 d have valid Social Security numbers. No one else lives in the household with them. able to claim on her 2021 federal income tax return? 5. What amount can Chloe claim as qualified dependent care expenses? OA. $3,000 OB. $5,980 OC. $6,000 OD. $8,000 Which of the following credits are refundable for a taxpayer who lived in the United States for all of 2021? (Select all that apply) A. Child Tax Credit B. Earned Income Credit C. Child and Dependent Care credit D. Retirement Savings Contribution Credit Chloe, age 48, divorced her husband in 2017 Chloe's 4 year old grandson, Marcus, has been living with her since his parents were incarcerated in August 2019 Chloe provided all the su Chloe worked full time and earned $53,000. She received no other income in 2021 Marcus attends daycare while Chloe works. Chloe received a statement from the daycare provider showing she paid $5.900 for Marcus Chloe received the third Economic Impact Payment (EIP 3) of $2,800 in 2021 . Chloe received advance payments of the Child Tax Credit totaling $1,800 in 2021 Chloe and Marcus are both US citizens, lived in the United States all year, and have valid Social Security numbers. No one else went 4. After reconciling the advance payments, how much Child Tax Credit will Chloe be able to claim on her 2021 tederal income tax retum? OA. $3,600 OB. $3,000 OC. $2,000 OD. $1,800 Circular 230 - Scenario 2: Chloe Carlow - Question 1 of 3. s were incarcerated in August 2019. Chloe provided all the support for Marcus and all the costs of keeping up their home in 2021 20210 The daycare provider showing she paid $5,980 for Marcus' care for the year. She did not pay any 2020 expenses in 2021 21 d have valid Social Security numbers. No one else lives in the household with them. able to claim on her 2021 federal income tax return? 5. What amount can Chloe claim as qualified dependent care expenses? OA. $3,000 OB. $5,980 OC. $6,000 OD. $8,000 Which of the following credits are refundable for a taxpayer who lived in the United States for all of 2021? (Select all that apply) A. Child Tax Credit B. Earned Income Credit C. Child and Dependent Care credit D. Retirement Savings Contribution Credit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Organizing Smart Buildings And CitiesPromoting Innovation And Participation

Authors: Elisabetta Magnaghi, VĂ©ronique Flambard, Daniela Mancini, Julie Jacques, Nicolas Gouvy

10th Edition

3030606066, 9783030606060

More Books

Students also viewed these Accounting questions

Question

Name four measures of spread.

Answered: 1 week ago

Question

Define critical thinking and list its seven standards.

Answered: 1 week ago