Question
In 2014, Amanda and Jaxon Stuart have a daughter who is one year old. The Stuarts are full-time students and they are both 23 years
In 2014, Amanda and Jaxon Stuart have a daughter who is one year old. The Stuarts are full-time students and they are both 23 years old. Their only sources of income are gains from stock they held for three years before selling and wages from part-time jobs.
What is their earned income credit in the following alternative scenarios if they file jointly?
1. Their AGI is $15,000, consisting of $10,000 of lottery winnings (unearned income) and $5,000 of wages.
2. Their AGI is $25,000, consisting of $20,000 of wages and $5,000 of lottery winnings (unearned income
3. Their AGI is $25,000, consisting of $5,000 of wages and $20,000 of lottery winnings (unearned income).
4. Their AGI is $10,000, consisting of $10,000 of lottery winnings (unearned income)
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