Rose and Steve are a married couple with two qualifying children Lily is a 15-year-old high...
Rose and Steve are a married couple with two
qualifying children Lily is a 15-year-old high school student and
Sam is a 21-year-old college student a couple reports AGI of
165,000 the couple is entitled to a child and dependent credit
of
$1,000
$2,000
$2,500
$4,000
Homework Answers
The correct answer is :$2,500".
$2,000 would be available for Lily who is under the age of 17 and hence eligible for full $2,000 of the child tax credit.
$500 would be available for Sam who is not under the age of 17 but a student and a dependent not falling under qualifying children category and hence $500 will be available in his case.
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