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Neville and Julie are married and have two children ages 19 and 14. Their adjusted gross income for the year is $71,200. Round all calculations
Neville and Julie are married and have two children ages 19 and 14. Their adjusted gross income for the year is $71,200. Round all calculations (including all fractions) up to the next whole number. a. Neville and Julie can claim $ 2,000 as a child credit. Feedback Check My Work The child credit provides tax relief to taxpayers with children under a certain age. There is a phase out as income increa: b. They can claim $ 4,000 for the child credit if their children are ages 16 and 13. Feedback Check My Work Correct c. Assume the same facts as part a except that their adjusted gross income is $412,700. Neville and Julie are allowed a child credit of $ X. Their child credit is reduced by $ X due to their adjusted gross income
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