Question
Richard is age 39 and was widowed in 2017. He has a daughter, Isabella, age 5. Richard provided the entire cost of maintaining the household
Richard is age 39 and was widowed in 2017. He has a daughter, Isabella, age 5. Richard provided the entire cost of maintaining the household and over half of the support for Isabella. In order to work, he pays childcare expenses to Busy Bee Daycare. Richard declined to receive advance child tax credit payments in 2021. Richards earned income in 2019 was $19,000. Richard and Isabella are U.S. citizens and lived in the United States all year in 2021. Richard received the third Economic Impact Payment (EIP3) in the amount of $2,800 in 2021
30. What is Richards most advantageous filing status? a. Single b. Married Filing Separately c. Head of Household d. Qualifying Widower
31. Richards adjusted gross income on his Form 1040 is $__________?
33. Richards Retirement Savings Contributions Credit on Form 8800 is $_______.
34. Richard will use his 2019 earned income rather than his 2021 earned income to calculate the earned income tax credit on his 2021 tax return because his 2019 earned income is higher than his 2021 earned income. a. True b. False
35. Richards child and dependent care credit from Form 2441 is reported as a nonrefundable credit on Form 1040, Schedule 3. a. True b. False
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