Total Deductions From AGI = Higher of Standard Deduction or Iter = $25,100 + $2,100 = $27.200 Taxable Income = AGI - Total Deductions From AGI = $115,500 - $27,200 = $88,300 Income Tax Liability = $10,923 Income Tax Liability = Taxable Income * Applicable Tax Rates = $9,328 + ($88,300 - $81,050) 22% = $10,923 Total Tax Credits = $9,500 Total Tax Credits = Child Tax Credit + Other Dependent Credit = ($3,000 3) + $500 = $9,500 Explanation: Child Tax Credit was $3,000 per Qualifying Children & Other Dependent Credit was $500 per dependent in 2021