Question
Sam and Kam are married and file a joint return with an AGI of $250,500. They have three dependent children ages 7, 10, and 17
Sam and Kam are married and file a joint return with an AGI of $250,500. They have three dependent children ages 7, 10, and 17 (ages at the end of 2022). With respect to their children, what amount, if any, of Child Tax Credit and/or Dependent credit can Sam and Kam apply to their return?
a. $4,500
b. $6,000
c. $4,000
d. $0 because they exceed the threshold to apply any credit.
Step by Step Solution
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Step: 1
Answer is Option C 4000 Explanation 1 Dependent Child below 17 age ...
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Concepts In Federal Taxation
Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher
19th Edition
978-0324379556, 324379552, 978-1111579876
