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Required information Problem 8-74 (LO 8-4) (Static) (The following information applies to the questions displayed below.) In 2021, Amanda and Jaxon Stuart have a daughter
Required information Problem 8-74 (LO 8-4) (Static) (The following information applies to the questions displayed below.) In 2021, Amanda and Jaxon Stuart have a daughter who is 1 year old. The Stuarts are full-time students and they are both 23 years old. Their only sources of income are gains from stock they held for three years before selling and wages from part-time jobs. What is their earned income credit in the following alternative scenarios if they file jointly? Use Exhibit 8-11. (Leave no answer blank. Enter zero if applicable.) Problem 8-74 Part a (Static) a. Their AGI is $15,000, consisting of $5,000 of capital gains and $10,000 of wages. Earned income credit b. Their AGI is $15,000, consisting of $10,000 of lottery winnings (unearned income) and $5,000 of wages. Earned income credit C. Their AGI is $28,000, consisting of $23,000 of wages and $5,000 of lottery winnings (unearned income). (Round your intermediate calculations to the nearest whole dollar amount.) Earned income credit d. Their AGI is $28,000, consisting of $5,000 of wages and $23,000 of lottery winnings (unearned income). (Round your intermediate calculations to the nearest whole dollar amount.) Earned income credit e. Their AGI is $10,000, consisting of $10,000 of lottery winnings (unearned income). Earned income credit
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