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Required information [ The following information applies to the questions displayed below. ] Trey has two dependents, his daughters, ages 1 4 and 1 8

Required information
[The following information applies to the questions displayed below.]
Trey has two dependents, his daughters, ages 14 and 18, at year-end. Trey files a joint return with his spouse.
What amount of child tax credit (either as a child or a qualifying dependent) will Trey be able to claim in 2023 for his daughters under each of the following alternative situations? Use Exhibit 8-8.
His AGI is $421,400, and his daughters are ages 10 and 12.
Answer is complete but not entirely correct.
Amount of child tax credit
EXHIBIT 8-8 Child Tax Credit Phase-Out Threshold
\table[[Filing Status,Phase-Out Threshold],[Married filing jointly,$400,000
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