Question
Use Tables 1, 2 and, 3 to answer the question. [Table 1. Tax Rate Brackets for Single Filers] Tax Bracket If Taxable Income Is: The
Use Tables 1, 2 and, 3 to answer the question.
[Table 1. Tax Rate Brackets for Single Filers]
Tax Bracket | If Taxable Income Is: | The Tax Is: |
10% | Not over $9,325 | 10% of taxable income |
15% | $9,325$37,950 | $932.50 + 15% of excess over $9,325 |
25% | $37,950$91,900 | $5,226.25 + 25% of excess over $37,950 |
28% | $91,900$191,650 | $18,713.75 + 28% of excess over $91,900 |
33% | $191,650$416,700 | $46,643.75 + 33% of excess over $191,650 |
35% | $416,700$418,400 | $120,910.25 + 35% of excess over $416,700 |
39.6% | Over $418,400 | $121,505.25 + 39.6% of excess over $418,400 |
[Table 2. Tax Rate Brackets for Married Filing Joint Returns and Surviving Spouses]
Tax Bracket | If Taxable Income Is: | The Tax Is: |
10% | Not over $18,650 | 10% of taxable income |
15% | $18,650$75,900 | $1,865 + 15% of excess over $18,650 |
25% | $75,900$153,100 | $10,452.50 + 25% of excess over $75,900 |
28% | $153,100$233,350 | $29,752.50 + 28% of excess over $153,100 |
33% | $233,350$416,700 | $52,222.50 + 33% of excess over $233,350 |
35% | $416,700$470,700 | $112,728 + 35% of excess over $416,700 |
39.6% | Over $470,700 | $131,628 + 39.6% of excess over $470,700 |
[Table 3. Standard Deduction Amounts]
Filing Status | 2017 |
Single | $6,350 |
Married Filing Joint Returns and Surviving Spouses | $12,700 |
Head of Household | $9,350 |
Married Filing Separately | $6,350 |
The Robinsons, a family of two adults and four dependent children under age 16, had a gross annual income of $97,500 for 2017 and no adjustments for AGI. Assume their filing status is married filing jointly and they choose standard deduction.
What was Robinsons total child tax credit amount if a $1,000 child tax credit was allowed for each child?
A | $2,000 | |
B | $3,000 | |
C | $4,000 | |
D | $6,000 |
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