EXHIBIT 8-8 Child Tax Credit Phase-Out Threshold

Filing Status	Phase-Out Threshold
Married filing jointly	$400,000
Married filing separately	200,000
Head of household and single	200,000

Problem 8-70 (LO 8-4) (Algo)

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Trey has two dependents, his daughters, ages 14 and 18, at year-end. Trey files a joint return with his wife.

What amount of child tax credit (either as a child or a qualifying dependent) will Trey be able to claim in 2021 for his daughters under each of the following alternative situations? Use Exhibit 8-8.

Problem 8-70 Part-a (Algo)

a. His AGI is $104,800.

Amount of child tax credit

Problem 8-70 Part-b (Algo)

b. His AGI is $424,800.

Amount of child tax credit

c. His AGI is $423,000, and his daughters are ages 10 and 12.

Amount of child tax credit