Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Margo Riche is married to John Riche, John has a mental infirmity. They have a 22 year old daughter who has a physical infirmity Neither

Margo Riche is married to John Riche, John has a mental infirmity. They have a 22 year old daughter who has a physical infirmity Neither infirmity is severe enough to qualify for the disability tax credit John has 2020 Net Income For Tax Purposes of $6,600, Their daughter has no 2020 income. Determine the amount of any 2020 tax credits that Margo will have related to her spouse and daughter. Which of the following federal tax credits can Margo claim regarding John and their daughter ? a. Spousal credit $6,629 for John, Canada Caregiver credit of $7,276 for daughter. b. Spousal credit $6,629 and Canada Caregiver credit of $7,276 for John, Canada Caregiver of $7,276 for daughter

c. Spousal credit including infirm of $8,902 for John, Eligible Dependent credit of S13,229 for daughter

d. Spousal credit including infirm S8,902 for John, Canada Caregiver credit of $7.276 for daughter

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials Of Internal Auditing CIA Part 1 2021

Authors: Muhammad Zain

1st Edition

B09B36MRH2, 979-8542949130

More Books

Students also viewed these Accounting questions

Question

Write formal and informal proposals.

Answered: 1 week ago

Question

Describe the components of a formal report.

Answered: 1 week ago

Question

Write formal and informal reports.

Answered: 1 week ago