Determine the amount of taxes owed or the refund that would result in this situation: Filing Status: Married filing jointly Gross Income: $125,000 Adjustments: $6,900 Itemized Deductions: $10,400

1. Determine their tax using the 2018 tax table
2. What is their final tax refund or amount still owed (if they owe enter the number as a negative)?

Child Tax Credit: $2000 for each "qualifying child" under 17.$1400 per child is refundable. The full credit is available to - Single parents with AGI$200,000 - Married couples filing jointly with AGI$400,000 The credit diminishes at a rate of $50 of credit for every $1000 of AGI in excess of that limit