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 2022 for his daughters under each of the following alternative situations? Use Exhibit 8-8. a. His AGI is $100,000 b.His AGI is $420,000 c. His AGI is $420,100 and his daughters are ages 10 and 12.

QUESTIONS

a. His AGI is $100,00

Amount of child tax credit?

b. His AGI is $420,000

Amount of child tax credit?

c. His AGI is $420,100, and his daughters are ages 10 and 12.

Amount of child tax credit?

EXHIBIT 8-8 Child Tax Credit Phase-Out Threshold