Exercise 10-11 (Algorithmic) (LO. 3) Santiago and Amy are married and file a joint tax return...

Question

Question

Exercise 10-11 (Algorithmic) (LO. 3)

Santiago and Amy are married and file a joint tax return claiming their three children, ages 5, 14, and 18, as dependents. Their AGI is $252,800.

Santiago and Amy's child tax credit for 2019 is $ and dependent tax credit is $.

business accounting

Answer 1

Answer #1

Child tax credit is applicable Only to the dependants below the age of 17.

Only two children are eligible.

So, dependant tax credit = 2000*2

= 4000

Comment if you face any issues

Answer 2

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