[The following information applies to the questions displayed below.]

Trey has two dependents, his daughters, ages 14 and 18, at year-end. Trey files a joint return with his wife.

What amount of child tax credit (either as a child or a qualifying dependent) will Trey be able to claim in 2021 for his daughters under each of the following alternative situations? Use Exhibit 8-8.

b. His AGI is $425,300.

Amount of Child Tax Credit:

EXHIBIT 8-8 Child Tax Credit Phase-Out Threshold Phase-Out Threshold Filing Status Married filing jointly Married filing separately Head of household and single $400,000 200,000 200,000