Santiago and Amy are married and file a joint tax return, claiming as dependents their three children, ages 12, 14, and 18. Their AGI is $122,000. Santiago and Amy's child tax credit is $_______

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Santiago and Amy are married and file a joint tax return, claiming as dependents their three children, ages 12, 14, and 18. Their AGI is $122,000. Santiago and Amy's child tax credit is $_______

Santiago and Amy are married and file a joint tax return, claiming as dependents their three children, ages 12, 14, and 18. Their AGI is $122,000.

Santiago and Amy's child tax credit is $_______

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Answer 1

Answer #1

Santiago and Amy's child tax credit is $ 4000

Calculated as

Child tax credit is $2000 per eligible child under the age of 17 if the MAGI is less than $200000 for single tax filer or $400000 for married filling jointly

So here tax credit will be $4000 for two children under the age of 17

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