Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Connor and Jen each filed as single on their 2019 tax returns. They got married in January 2020 and had a child named Nathan in
Connor and Jen each filed as single on their 2019 tax returns. They got married in January 2020 and had a child named Nathan in November 2020. Connor's 2019 adjusted gross income was $100,000 and Jen's was $25,000. Neither had qualifying children in 2019. Connor's income in 2019 kept him from receiving any of the economic impact payments.
Samantha received the full amount for both the $1,200 and $600 stimulus payments for a total of $1,800 total. Connor and Jen file their 2020 tax return as married filing jointly claiming Nathan as their child and have a combined adjusted gross income (AGI) of $125,000. Assuming that all three meet all of the requirements, they were able to claim a Recovery Rebate Credit Part 1 and 2 for what amount?
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