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This question has three parts to it. Can you please show work, and bold your final answer. The answers I have typed down are in
This question has three parts to it. Can you please show work, and bold your final answer. The answers I have typed down are in this question are all wrong, at least that's what Mcgraw-Hill said.
Required information Problem 8-70 (LO 8-4) (Algo) [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 spouse. What amount of child tax credit (either as a child or a qualifying dependent) will Trey be able to claim in 2022 for his daughters under each of the following alternative situations? Use Exhibit 8-8. Problem 8-70 Part a (Algo) a. His AGI is $107,900. Required information Problem 8-70 (LO 8-4) (Algo) [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 spouse. What amount of child tax credit (either as a child or a qualifying dependent) will Trey be able to claim in 2022 for his daughters under each of the following alternative situations? Use Exhibit 8-8. Problem 8-70 Part b (Algo) b. His AGI is $423,000. Problem 8-70 (LO 8-4) (Algo) [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 spouse. What amount of child tax credit (either as a child or a qualifying dependent) will Trey be able to claim in 2022 for his daughters under each of the following alternative situations? Use Problem 8-70 Part c (Algo) c. His AGI is $420,400, and his daughters are ages 10 and 12 . EXHIBIT 8-8 Child Tax Credit Phase-Out ThresholdStep by Step Solution
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