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Trey has two dependents, his daughters, ages 14 and 17, at year-end. Trey files a joint return with his wife. What amount of child credit
Trey has two dependents, his daughters, ages 14 and 17, at year-end. Trey files a joint return with his wife.
What amount of child credit will Trey be able to claim for his daughters under each of the following alternative situations? Use Exhibit 8-8
EXHIBIT 8-8 Child Tax Credit Phase-Out Threshold
Filing Status | Phase-Out Threshold |
---|---|
Married filing jointly | $400,000 |
Married filing separately | 200,000 |
Head of household and single | 200,000 |
b. His AGI is $420,900.
c. His AGI is $428,400, and his daughters are ages 10 and 12.
Amount of Child Tax Credit for scenario B= ??????
Amount of Child Tax Credit for scenario C= ??????
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