Determine the amount of the child tax credit in each of the following cases:> Answer is complete but not entirely correct.a. A single parent with modified AGI of $214,600 and one child age 4.b. A single parent with modified AGI of $79,200 and three children ages 7, 9, and 12.c. A married couple, filing jointly, with modified AGI of $409,133 and two children age 14 and 16.d. A married couple, filing jointly, with modified AGI of $133,255 and one child, age 13.Child TaxCreditAllowed$$$$1,250 ✓✔9,600 X3,544 x3,000

In tax law, modified adjusted gross income (MAGI) is used to establish eligibility for certain…

Answered: Determine the amount of the child tax…

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter10: Deduct Ions And Losses: Certain Itemized Deduct Ions

Section: Chapter Questions

Problem 5BCRQ

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Which of the following would preclude a taxpayer from deducting student loan interest expense? a. The total amount paid is 1,000. b. The taxpayer is single with AGI of 55,000. c. The taxpayer is married filing jointly with AGI of 120,000. d. The taxpayer is taken as a dependent of another taxpayer.
Determine the amount of the child tax credit in each of the following cases: Answer is complete but not entirely correct. a. A single parent with modified AGI of $214,800 and one child age 4. b. A single parent with modified AGI of $79,400 and three children ages 7, 9, and 12. c. A married couple, filing jointly, with modified AGI of $409,333 and two children age 14 and 16. d. A married couple, filing jointly, with modified AGI of $133,455 and one child, age 13. Child Tax Credit Allowed $ $ $ $ 1,275 X 6,000 X 1,550 X 2,000 X
Determine the amount of the child tax credit in each of the following cases: Answer is complete but not entirely correct. a. A single parent with modified AGI of $214,200 and one child age 4. b. A single parent with modified AGI of $78,800 and three children ages 7, 9, and 12. c. A married couple, filing jointly, with modified AGI of $408.733 and two children age 14 and 16. d. A married couple, filing jointly, with modified AGI of $132,855 and one child, age 13. Child Tax Credit Allowed $ $ $ 19 $ 1,900 x 9,000 x 6,000 x 3,000
Determine the amount of the child tax credit in each of the following cases: a. A single parent with modified AGI of $213,400 and one child age 4. b. A single parent with modified AGL of $78,000 and three children ages 7, 9, and 12. c. A married couple, filing jointly, with modified AGI of $407,933 and two children age 14 and 16. d. A married couple, filing jointly, with modified AGI of $132,055 and one child, age 13. Child Tax Credit Allowed $ 1,300 3,600
Determine the amount of the child tax credit in each of the following cases: a. A single parent with modified AGI of $213,700 and one child age 4. b. A single parent with modified AGI of $78,300 and three children ages 7, 9, and 12. c. A married couple, filing jointly, with modified AGI of $408,233 and two children age 14 and 16. d. A married couple, filing jointly, with modified AGI of $132,355 and one child, age 13. 1711111 Child Tax Credit Allowed
Determine the amount of the child tax credit in each of the following cases: Answer is complete but not entirely correct. Child Tax Credit Allowed a. A single parent with modified AGI of $214,700 and one child age 4. $ 1,250 b. A single parent with modified AGI of $79,300 and three children ages 7, 9, and 12. $ 6,000 × c. A married couple, filing jointly, with modified AGI of $409,233 and two children age 14 and 16. d. A married couple, filing jointly, with modified AGI of $133,355 and one child, age 13. $ 3,538 $ 2,000
Dtermine the amount of the child tax credit in each of the following cases: A) A single parent with modified AGI of $213,700 and one child age 4. B) A single parent with modified AGI of $78,300 and three children ages 7,9 ans 12. c) A married couple, filing jointly, with a ,modified AGI of $408,233 and two children age 14 and 16. D) A married couple, filing jointly, with modified AGI of $132,355 and one child , age 13.
Determine the amount of the child tax credit in each of the following cases: Child Tax Credit Allowed a. A single parent with modified AGI of $215,100 and three children. b. A single parent with modified AGI of $82,634 and five children. c. A married couple, filing jointly, with modified AGI of $408,902 and two children.
Could you help with the answer for these 2 child tax credits? Determine the amount of the child tax credit in each of the following cases: A: A single parent with modified AGI of $214,100 and one child age 4. C. A married couple filing jointly with modified AGI of $408, 633 and two children age 14 and 16
I need help with B and C please. Determine the amount of the child tax credit in each of the following cases: B) a single parent with modified AGI of $79,400 and three children ages 7, 9, and 12. C) a married couple, filing jointly, with modified AGI of $409,333 and two children age 14 and 16.
Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases. Use the Tax Tables to compute tax liability. Required: a. Married taxpayers, who file a joint return, have taxable income of $32,366. b. Single taxpayer, has taxable income of $67,342. Note: For all requirements, round "Average tax rate" to 2 decimal places. Tax liability a. $ b. $ 3,474 14,336 Marginal tax rate 15 % 25 % Average tax rate. 12.13 % 21.28 %
Using the tax table, determine the amount of taxes for the following situations: (Do not round intermediate calculations. Round your answers to 2 decimal places.) a. A head of household with taxable income of $58, 500. b. A single person with taxable income of $ 36,400. c. Married taxpayers filing jointly with taxable income of $72,700.

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