In 2022, Amanda and Jaxon Stuart have a daughter who is 1 year old. The Stuarts are full-time students and 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? Use Exhibit 8-11.
Note: Leave no answer blank. Enter zero if applicable.
Required:
- Their AGI is $15,200, consisting of $12,100 of capital gains and $3,100 of wages.
- Their AGI is $15,200, consisting of $10,100 of lottery winnings (unearned income) and $5,100 of wages.
- Their AGI is $28,150, consisting of $23,100 of wages and $5,050 of lottery winnings (unearned income).
Note: Round your intermediate calculations to the nearest whole dollar amount.
- Their AGI is $28,150, consisting of $5,050 of wages and $23,100 of lottery winnings (unearned income).
Note: Round your intermediate calculations to the nearest whole dollar amount.
- Their AGI is $10,100, consisting of $10,100 of lottery winnings (unearned income).
A-E is solving for earned income credit.
In 2022. Amanda and Jaxon Stuart have a doughter who is 1 year old. The Stuarts are ful-time students and are both 23 years old Thelr only sources of income are gains from stock they held for three years before selling and wages from part-time jobs. What is their eamed income credit in the following aliernative scenarios if they file jointly? Use Exhibit 8 atl. Note: Leave no answer blank. Enter zero if applicable. Required: a. Their AGI is $15,200, consisting of $12,100 of capital gains and $3,100 of wages. b. Their AGI is $15,200, consisting of $10,100 of lottery winnings (uneamed income) and $5,100 of wages. c. Their AGI is $28.150, consisting of $23,100 of wages and $5,050 of lottery winnings funeamed income) Note: Round your intermediate calculations to the nearest whole dollar amclunt. d. Their AGI is $28,150, consisting of $5,050 of wages and $23,100 of lottery winnings (uneamed income). Note: Round your intermedlate caiculations to the nearest whole dollar amount. e. Their AG! is $10100, consisting of $10,100 of lottery winnings (unearned income) Complete this question by entering your answers in the tabs below. Their AGt is $15,200, consisting of $12,100 of copital gains and $3,100 of wages In 2022. Amanda and Jaron Stuart have a doughter who is 1 yoar old. The Stuarts are ful-time studerts bnd are both 23 yoars old Theit only sources of income are gans from stock they held for three years before selling and wages from part time jobs What is their eamed income cred th the following altemative scenarios if they flie jointly? Use Eahibit 8-11 Note: Learve no answer blank. Enter aero if applicable. Aequired: a. Their AGi is $15,200, consisting of $12,300 of capital gains and 53,100 of wages b. Their AGI is $15,200, consiating of $10,000 of lottery winnings faneamed incomeland 55$00 of wages c. Their ACl is 528,150 , consisting of $23,100 of whges and $5,050 of lottery wintings (uncorned income) Note: Round your intermediate calculations to the nearest whole dollar ameunt. d. Their AGt is $28,$50, consisting of $5,050 of weges and $23,300 of lontery wienings fanetned inceriel) Note: Round your intermediote calculations to the nearest whole dolis amount. e. Theif AGt is $10,100, consistng of $10100 of lotsery winnings (uneamed income). Cemplete this questien by entering your answers in the tabs below. They ACt is $15,200, consisting of $10,100 of lotrery winnings (Usearmed income) and $5,160 of wa9es