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Required information [The following information applies to the questions displayed below.] In 2019, Zach is single with no dependents. He is not claimed as a
Required information [The following information applies to the questions displayed below.] In 2019, 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. (Do not round intermediate calculations. 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 $9,400. Earned income credit No Credit When AGI (or earned income if greater) Equals or Exceeds This Amount (4) + [(3)/(5)] EXHIBIT 8-10 2019 Earned Income Credit Table (1) Maximum (3) Earned Income Maximum Credit Phase-Out for AGI (5) Qualifying Eligible for (2) Credit (or earned income if Phase-Out Children Credit Credit % (1) X (2) greater) Over This Amount Percentage Married taxpayers filing joint returns 0 $ 6,920 7.65% S 529 $14,450 7.65% 1 10,370 34 3,526 24,820 15.98 2 14,570 40 5.828 24,820 21.06 3+ 14,570 45 6,557 24,820 21.06 All taxpayers except married taxpayers filing joint returns 0 $ 6,920 7.65% S 529 $ 8,650 7.65% 1 10,370 34 3,526 19,030 15.98 2 14,570 40 5.828 19,030 21.06 3+ 14,570 45 6,557 19,030 21.06 $21,370 46,884 52,493 55,952 $15,570 41,094 46,703 50.162 Source: Rev. Proc. 2018-57
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