Federal Tax

[The following information applies to the questions displayed belowj The following information applies to the questions Trey has two dependents, his daughters, ages 14 and 17, at year-end. Trey files a joint return with his wife. What amount of child credit will Trey be able to claim for his daughters under each of the following alternative situations? Use Exhibit 8-8. Problem 8-70 Part-a a. His AGI is $100,000. Amount of child tax credit Problem 8-70 (LO 8-4) The following information applies to the questions displayed below Trey has two dependents, his daughters, ages 14 and 17, at year-end. Trey files a joint return with his wife. What amount of child credit will Trey be able to claim for his daughters under each of the following alternative situations? Use Exhibit 8-8 Problem 8-70 Part-b b. His AGI is $420,000 Amount of child tax credit Problem 8-70 (LO 8-4) The following information applies to the questions displayed below.] Trey has two dependents, his daughters, ages 14 and 17, at year-end. Trey files a joint return with his wife. What amount of child credit will Trey be able to claim for his daughters under each of the following alternative situations? Use Exhibit 8-8. roblem 8-70 Part-c His AGI is $420,100, and his daughters are ages 10 and 12 Amount of child tax credit EXHIBIT 8-8 Child Tax Credit Phase-Out Threshold Filing Status Phase-Out Threshold Married filing jointly Married filing separately Head of household and single $400,000 200,000 200,000