Question
Earned Income Credit: For each of the following situations, compute the taxpayers 2019 earned income credit. A. Patty and Ron Barnett file a joint return,
Earned Income Credit:
For each of the following situations, compute the taxpayers 2019 earned income credit. A. Patty and Ron Barnett file a joint return, claiming their two sons, ages 3 and 5, as dependents. The Barnetts AGI is $14,400, which consists entirely of Rons wages. B. Joseph is a 25-year-old graduate student. His gross income consists of $5,000 of wages and $80 in interest from a savings account. Joseph files as single and claims no dependents. C. Suzanne and Vernon Zimmerman file a joint return, claiming their 6-year-old daughter as a dependent. The Zimmermans AGI consists of Vernons $26,375 in wages, and $400 in dividend income. D. Sarah files as head of household, claiming her 2-year-old son as a dependent. Sarahs AGI consists of $18,000 in wages and $3,620 in interest income.
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