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The Ray's reported $490,000AGI on their joint return. The couple has three dependent children under age 17. Compute their child tax credit. (See textbook page
The Ray's reported $490,000AGI on their joint return. The couple has three dependent children under age 17. Compute their child tax credit. (See textbook page 14-22.) Note: In 2022 the child tax credit did revert back to the structure before the changes under the Tax Cuts and Jobs Act. So use the child credit rules in the textbook and slide. $0 $1,500 $4,500 $6,000
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