Ms. Jones is married and has Net Income for Tax Purposes of $123,000, none of which is employment income nor self-employment income. Her husband is currently unemployed but has interest income from investments of $3,750. Her 20 year old dependent attends university and lives at home. Her dependents Net Income for Tax Purposes of $4,800 and does not agree to transfer his tuition credit to his mother.

Instructions:

• Indicate the maximum 2020 federal personal tax credits available to offset preliminary taxes.