Trey has two dependents, his daughters, ages 14 and 17, at year-end. Trey files a joint...

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Trey has two dependents, his daughters, ages 14 and 17, at year-end. Trey files a joint...

Trey has two dependents, his daughters, ages 14 and 17, at year-end. Trey files a joint return with his wife.

What amount of child credit will Trey be able to claim for his daughters under each of the following alternative situations?

b. His AGI is $426,400

c. His AGI is $429,200, and his daughters are ages 10 and 12.

business accounting

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Answer 1

Answer #1

Solution To qualefy for child tax Credit (CTC), childs agent must be under 17. 2018 per child tax credet - 2000 CTC is phase (27 50) = 1350 CTC = ( 2000 -1350) Gedet for other dependent Total Child Credit . - 650 = 500 = 1150 Excess AGI = (429200 - 4

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Answer 2

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