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. 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

Required:

a. His AGI is $106,900.

b. His AGI is $443,000.

c. His AGI is $422,400, and his daughters are ages 10 and 12