Question
Jon and Kate have 8 children. Their AGI is 200,000 and consists exclusively of earned income. Both Jon and Kate earned $100,000 each. They have
Jon and Kate have 8 children. Their AGI is 200,000 and consists exclusively of earned income. Both Jon and Kate earned $100,000 each. They have $50,000 in childcare expenses If all of their kids are younger than 13, what is the maximum dependent care credit? (I already know $6,000 is incorrect)
$2,100 | ||
$10,000 | ||
$6,000 | ||
$1,200 | ||
$3,000 |
You have AGI of $50,000. You have two, twin dependents which are full time students. You paid tuition of $18,000 in the current year, $9,000 for each student. Both students are obtaining their first degree and it is their 5th year of school. They are not convicted of a drug felony. What is the amount of your education credit? (I already know $5,000 is incorrect)
$2,500 | ||
$4,000 | ||
$5,000 | ||
$3,000 | ||
$2,000 |
Tina worked in Norway for two months in the current tax year. She earned $80,000 exclusively in the United States and $20,000 exclusively in Norway. Tina had to pay $8,000 in income taxes to Norway. Before considering the Foreign Tax Credit, Tinas federal return is showing a tax liability of $16,000. She calculates that $7,000 of this federal tax is specifically related to the income earned in Norway. What is Tinas Foreign Tax Credit? (I already know $8,000 is incorrect)
$0 | ||
$8,000 | ||
$16,000 | ||
$7,000 |
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