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you can skip question 19) i know the answer is A)Yes, they meet all qualifications to recieve the credit 13. What is the amount of
you can skip question 19) i know the answer is A)Yes, they meet all qualifications to recieve the credit
13. What is the amount of Carly's student loan interest deduction on Form 1040, Schedule 1?$ 15. What is the amount of qualified child care expenses used in the calculation of the Franklin's Form 2441, Child and Dependent Care Expenses? a. $0 b. $750 c. $1,500 d. $2,250 16. The refundable portion of the American opportunity credit located on Form 8863, Education Credit is $ 17. The amount of the Franklin's net premium tax credit on Form 8962, Premium Tax Credit is $ for Cristina on their 18. The Franklins can claim a recovery rebate credit of $ 2020 tax return Note: Congress may have enacted additional legislation that will affect taxpayers after this publication went to print. Please answer questions based on the information provided in Publication 4491, VITA/TCE Training Guide and Publication 4012, VITA/ TCE Resource Guide 19. Do the Franklins qualify for the earned Income credit? a. Yes, they meet all the qualifications to receive the credit. b. No, their income is too high SOCIAL SETRITY ONLINE, NEITY . . . . Harris and Carly Franklin are married and choose to file Married Filing Jointly on their 2020 tax return Harris and Carly have one son Billy and a newborn baby Cristina born in 2020. Carly was a kindergarten teacher at a private school through May and decided not to return after the birth of her child. Carly worked a total of 800 hours in 2020 (January - May). She spent $375 on unre- imbursed classroom expenses while she was employed. In order to work, the Franklins paid child care expenses of $1,500 through May for Billy. They also paid $750 in child care expenses for Cristina while Carly volunteered in Billy's class in November. The Franklins paid $3,960 in student loan interest in 2020. In August of 2020, Harris enrolled in college to pursue a bachelor's degree in Accounting. He received a scholarship and the terms require that it be used to pay tuition. He provided Form 1098-T and an account statement from the college that included additional expenses. Harris had no previous post-secondary education Gordon College is a qualified educational institution. Harris does not have a felony drug conviction The Franklins received a $2,900 Economic Impact Payment (EIP) in 2020. Harris purchased insurance for the entire family through the Marketplace and received Form 1095-A. They are all U.S. citizens with valid Social Security numbers. . SOCIAL SECURITY 604-00-XXXX Harris Franklin 605-00-XXXX Carly Franklin Haur Franklin Carly Franklin 606-00-XXXX Billy Franklin Billy Franklin 607-00-OOOX Cristina Franklin Cristina Franklin Step by Step Solution
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