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Exercise 12-16 (Algorithmic) (LO. 4) Santiago and Amy are married and file a joint tax return, claiming as dependents their three children, ages 12, 14,

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Exercise 12-16 (Algorithmic) (LO. 4) Santiago and Amy are married and file a joint tax return, claiming as dependents their three children, ages 12, 14, and 18. Their AGT is $126,000. Santiago and Amy's child tax credit is 500 x The child tax credit provisions allow individual taxpayers to take a tax credit based solely on the number of their qualifying children. This credit is one of several "family friendly" provisions that currently are part of our tax law 01 6 8 0

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