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Required information [The following information applies to the questions displayed below.] In 2020, Zach is single with no dependents. He is not claimed as a

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Required information [The following information applies to the questions displayed below.] In 2020, Zach is single with no dependents. He is not claimed as a dependent on another's return. All of his income is from salary and he does not have any for AGI deductions. What is his earned income credit in the following alternative scenarios? Use Exhibit 8-10. (Round your intermediate calculations to whole dollar amount. Round your final answer to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) b. Zach is 29 years old and his AGI is $10,000. X Answer is complete but not entirely correct. Earned income credit $ 403 x EXHIBIT 8-10 2020 Earned Income Credit Table (1) Maximum Earned Income Eligible for Credit Qualifying Children 0 $ 7,030 1 10,540 2 14,800 14,800 (3) No Credit When AGI (or earned Maximum Credit Phase-Out for AGI (5) income if greater) Equals or Credit (or earned income if Phase-Out Exceeds This Amount (4) + Credit % (1) (2) greater) Over This Amount Percentage [(3)/(5)] Married taxpayers filing joint returns 7.65% $ 538 $14,680 7.65% $21,710 34 3,584 25,220 15.98 47,646 40 5,920 25,220 21.06 53,330 45 6,660 25,220 21.06 56,844 All taxpayers except married taxpayers filing joint returns 7.65% $ 538 $ 8,790 7.65% $15,820 34 3,584 19,330 15.98 41,756 40 5,920 19,330 21.06 47,440 45 6,660 19,330 21.06 50,954 3+ 0 $ 7,030 1 10,540 2 14,800 3+ 14,800 Source: Internal Revenue Code. "Rev. Proc. 2018-57." www.irs.gov

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