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Problem 1-25 Economic Impact Payment and Recovery Rebate Credit (LO 1.7) Luke and Vanessa have been married since 2017 and have filed jointly each

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Problem 1-25 Economic Impact Payment and Recovery Rebate Credit (LO 1.7) Luke and Vanessa have been married since 2017 and have filed jointly each year since then. Their 2020 EIP was based on their 2020 tax return that was filed in early February 2021. In May 2021, they celebrated the adoption of a child. If their AGI was never greater than $120,000, what was their EIP and RRC (before applying the EIP) in 2021? a. EIP 120,000 X b. RRC 500 X

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