Question
In 2023, Amanda and Jaxon Stuart have a daughter who is 1 year old. The Stuarts are full-time students and are both 23 years old.
In 2023, 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 8-10.
Note: Leave no answer blank. Enter zero if applicable.
a. Their AGI is $15,600, consisting of $12,300 of capital gains and $3,300 of wages. b. Their AGI is $15,600, consisting of $10,100 of lottery winnings (unearned income) and $5,500 of wages. c. Their AGI is $30,300, consisting of $23,150 of wages and $7,150 of lottery winnings (unearned income). d. Their AGI is $30,300, consisting of $5,150 of wages and $25,150 of lottery winnings (unearned income). e. Their AGI is $10,100, consisting of $10,100 of lottery winnings (unearned income).
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