Homework Answers
Answer
- The correct answer is Option ‘B’ $ 3,400
- This is because the maximum amount of Credit for Tax Year 2017 is:
--$510 with no qualifying
children
--$3400 with one
qualifying child
--$5616 with two qualifying children
--$6318 with three or more qualifying children.
- Moreover, Juan and Lydia file joint return and have AGI of $ 19,000, which is below $ 45,207 limit.
- Note: Tax Year 2017 has been considered because the given options are based on tax year 2017.
- For 2018, the limits are:
--$519 with no qualifying
children
--$3461 with one qualifying child
--$5716 with two qualifying children
--$6431 with three or more qualifying children.
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