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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
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
Filing Status | Phase-Out Threshold |
---|---|
Married filing jointly | $400,000 |
Married filing separately | 200,000 |
Head of household and single | 200,000 |
c. His AGI is $424,800, and his daughters are ages 10 and 12.
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