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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
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.) a. Zach is 29 years old and his AGI is $4,300. Earned income credit b. Zach is 29 years old and his AGI is $9,150. Earned income credit c. Zach is 29 years old and his AGI is $16,800. Earned income credit d. Zach is 24 years old and his AGI is $4,300. Earned income credit EXHIBIT 8-10 2020 Earned Income Credit Table No Credit When AGI (or earned income if greater) Equals or Exceeds This Amount (4) + [(3)(5 $21.710 (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) (2) greater) Over This Amount Percentage Married taxpayers filing joint returns 0 $ 7,030 7.63% $ 538 $14,680 7.65% 1 10,540 34 3,584 25,220 15.98 14,800 40 5,920 25.220 21.06 3+ 14,800 45 6,660 25,220 21.06 All taxpayers except married taxpayers filing joint returns 0 $7.030 7.65% $ 538 $8,790 7.65% 1 10,540 34 3.584 15.98 2 14.800 40 5,920 19,330 21.06 3+ 14.800 45 6,660 19,330 21.06 Source: internal Revenue Code. "Rex Proc. 2018-57"www.com 47.646 53,330 56.844 19,330 $15.820 41.756 47.440 50,954
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