Santiago and Amy are married and file a joint tax return claiming their three children, ages...

Question

Question

Santiago and Amy are married and file a joint tax return claiming their three children, ages 10, 14, and 18, as dependents. Their AGI is $259,200.

Santiago and Amy's child tax credit for 2019 is ($_____) and dependent tax credit is ($______).

business accounting

Answer 1

Answer #1

They can claim child tax credit $2000 per children for the children Bellow 17 years. So it's available for two children.

And for above 17 , they can claim dependent Credit of $500 per dependent, so for one child.

Accordingly

Child tax credit. = $2000*2 = $4000

Dependent Credit= $500

Answer 2

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