Homework Answers
Answer-47:
Option A (i.e. Robbie can claim Amy as a dependent and the child tax credit and/or the additional child tax credit. Cate can use Amy as qualifying person for head of the household filing status, the child and dependent care credit and EIC) is correct answer.
Answer-48:
Correct answer is $25,000
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Marks: 1 Robbie and Cate were divorced in 2012 and neither one has remamed They have...
Mai and Chuck have been divorced since 2012. They have three boys, ages 6, 8, and...
Mai and Chuck have been divorced since 2012. They have three boys, ages 6, 8, and 10. All of the boys live with Mai and she receives child support from Chuck. Mai and Chuck both work and the boys need child care before and after school. Te boys attend The Fun House Day Care Center and Mai paid them $2,000 and Chuck paid them $3,000. Mai's AGI is $18,000 and Chuck's is $29,000. Mai will claim two of the boys...
could you please answer quiestion #1-2 Problem #1 Kobe is a single dad with two dependent...
could you please answer quiestion #1-2
Problem #1 Kobe is a single dad with two dependent children, Lizzie, age 7 and Leslie, age 3. He has AGI of $51.000 and paid $6.300 to a qualified day care center. What amount of credit can Kobe receive for the child and dependent care credit? Problem #2 DJ and Nicolette paid $1,600 in qualifying expenses for their daughter Nicole to attend the University of Nevada Nicole is a sophomore. DJ and Nicolette's AGI...
Question 44 of 75. h (35) is divorced from Dan (40). They are the parents of Boyd (12). Boyd live...
Question 44 of 75. h (35) is divorced from Dan (40). They are the parents of Boyd (12). Boyd lives with his mother, Barb, who pays over half ost of maintaining the home. The divorce decree gives Dan the unconditional right to claim the dependency exemption for filing status is 0 Head of household. O Married filing jointly O Married fling separately O Single tion for Boyd. Boyd meets all of the tests for dependency for Barb as a qualifying...
Which of the following would not be a qualifying person for Anna for purposes of filing...
Which of the following would not be a qualifying person for Anna for purposes of filing head of household? Choose one answer. a. Anna's eligible foster child who lived with her all year and who she can claim as a dependent b. Anna's adopted child, who lives with her, is married and who she can claim as a dependent c. Anna's mother who she can claim as a dependent d. Anna's aunt who does not live with her but who...
Which of the following taxpayers (all of whom have one qualifying child for purposes of the...
Which of the following taxpayers (all of whom have one qualifying child for purposes of the child tax credit) are able to claim the full $2,000 child tax credit as a nonrefundable credit on their return? Choose one answer. a. Nina, who files as Head of Householder with a modified AGI of $30,000 and a tax liability of $800 b. Sheila, who files as married filing separately with a modified AGI of $220,000 and a tax liability of $4,000 c....
Markt Ashley is single and lives with Barney, her boyfriend, and Candy, his 8-year-old daughter Ashley...
Markt Ashley is single and lives with Barney, her boyfriend, and Candy, his 8-year-old daughter Ashley paid all of the support for her household in 2018 Barney has earned income of $2.500 and had income tax withheld from his wages. He has no other income and is not required to file an income tax return. With one qualifying child. Bamey may claim an earned income credit Barney files an income tax return solely to obtain a refund of withheld income...
Tim and Martha paid $7,900 in qualified employment-related expenses for their three young children, who live...
Tim and Martha paid $7,900 in qualified employment-related expenses for their three young children, who live with them in their household. Martha received $1,800 of dependent care assistance from her employer, which was properly excluded from gross income. The couple had $57,000 of AGI earned equally. Use Child and Dependent Care Credit AGl schedule. a. What amount of child and dependent care tax credit can they claim on their Form 1040? b. How would your answer differ (if at all)...
Aurora and Oscar separated in 2017 and divorced in October 2019. She earned $40,000 in wages...
Aurora and Oscar separated in 2017 and divorced in October 2019. She earned $40,000 in wages and paid more than half the cost of keeping up her home in 2019. Aurora and Oscar have a son, Milo, who is 17 years old and unmarried. Aurora signed Form 8332 (Release/Revocation of Release of Claim to Exemption for Child by Custodial Parent) allowing Oscar to claim Milo in 2019. Milo is a full-time student working towards a degree in computer information systems....
14. Child Tax Credit. (Obj. 2) Compute the child tax credit for each of the following...
14. Child Tax Credit. (Obj. 2) Compute the child tax credit for each of the following can a. Jay and Marie Stockton file a joint return and claim their three children, a 17, as dependents. The Stocktons' AGI is $121,400. nd 3 b. DJ files as head of household. He claims his twin sons, age 4, as dependents. DJ's AG is $80,340. c. Jenn files as head of household. She claims her 12-year-old daughter as a dependent. Jenn's AGI is...
Tim and Martha paid $6.900 in qualified employment-related expenses for their three young children, who live...
Tim and Martha paid $6.900 in qualified employment-related expenses for their three young children, who live with them in their household, Martha received $2,100 of dependent care assistance from her employer, which was properly excluded from gross income. The couple had $42,100 of AGI earned equally. Use Child and Dependent Care Credit AGI schedule a. What amount of child and dependent care tax credit can they claim on their Form 1040? b. How would your answer differ (if at all)...
could you please answer quiestion #1-2
Problem #1 Kobe is a single dad with two dependent children, Lizzie, age 7 and Leslie, age 3. He has AGI of $51.000 and paid $6.300 to a qualified day care center. What amount of credit can Kobe receive for the child and dependent care credit? Problem #2 DJ and Nicolette paid $1,600 in qualifying expenses for their daughter Nicole to attend the University of Nevada Nicole is a sophomore. DJ and Nicolette's AGI...
Question 44 of 75. h (35) is divorced from Dan (40). They are the parents of Boyd (12). Boyd lives with his mother, Barb, who pays over half ost of maintaining the home. The divorce decree gives Dan the unconditional right to claim the dependency exemption for filing status is 0 Head of household. O Married filing jointly O Married fling separately O Single tion for Boyd. Boyd meets all of the tests for dependency for Barb as a qualifying...
Markt Ashley is single and lives with Barney, her boyfriend, and Candy, his 8-year-old daughter Ashley paid all of the support for her household in 2018 Barney has earned income of $2.500 and had income tax withheld from his wages. He has no other income and is not required to file an income tax return. With one qualifying child. Bamey may claim an earned income credit Barney files an income tax return solely to obtain a refund of withheld income...
Tim and Martha paid $7,900 in qualified employment-related expenses for their three young children, who live with them in their household. Martha received $1,800 of dependent care assistance from her employer, which was properly excluded from gross income. The couple had $57,000 of AGI earned equally. Use Child and Dependent Care Credit AGl schedule. a. What amount of child and dependent care tax credit can they claim on their Form 1040? b. How would your answer differ (if at all)...
14. Child Tax Credit. (Obj. 2) Compute the child tax credit for each of the following can a. Jay and Marie Stockton file a joint return and claim their three children, a 17, as dependents. The Stocktons' AGI is $121,400. nd 3 b. DJ files as head of household. He claims his twin sons, age 4, as dependents. DJ's AG is $80,340. c. Jenn files as head of household. She claims her 12-year-old daughter as a dependent. Jenn's AGI is...
Tim and Martha paid $6.900 in qualified employment-related expenses for their three young children, who live with them in their household, Martha received $2,100 of dependent care assistance from her employer, which was properly excluded from gross income. The couple had $42,100 of AGI earned equally. Use Child and Dependent Care Credit AGI schedule a. What amount of child and dependent care tax credit can they claim on their Form 1040? b. How would your answer differ (if at all)...
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