Carolyn has an AGI of $38,800 (all from earned income) and two qualifying children and is filing as a head of household. What amount of earned income credit is she entitled to? (Exhibit 8-10) Multiple Choice $0 $2,973 $4,152 $3,631 $6,604
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Carolyn has an AGI of $38,800 (all from earned income) and two qualifying children and is filing as a head of household. What amount of earned income credit is she entitled to? (Exhibit 8-10) Multiple Choice $0 $2,973 $4,152 $3,631 $6,604
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- Carolyn has an AGI of $38,800 (all from earned income) and two qualifying children and is filing as a head of household. What amount of earned income credit is she entitled to? (Exhibit 8-10) Multiple Choice $0 $2,973 $4,152 $3,631 $6,604Carolyn has an AGI of $38,000 (all from earned income) and two qualifying children and is filing as a head of household. What amount of earned income credit is she entitled to? a. $0 b. $2,401 c. $3,341 d. $3,692 e. $6,164Sd Carolyn has an AGI of $38,000 (all from earned income) and two qualifying children and is filing as a head of household. What amount of earned income credit is she entitled to? a. $0 b. $2,401 c. $3,341 d. $3,692 e. $6,164
- Bernadette files as head of household and claims her two children, both under age 16. Her 2021 AGI is $44,500. Which credit is most likely to INCREASE if she lowers her AGI by $1,000? A. Earned Income Tax Credit. B. Child and Dependent Care Credit. C. Child Tax Credit. D. Advance payments of the Child Tax Credit.Required information [The following information applies to the questions displayed below.] 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? Use Exhibit 8-8. a. His AGI is $107,600. Amount of child tax credit b. His AGI is $426,900. Amount of child tax credit c. His AGI is $429,800, and his daughters are ages 10 and 12. Amount of child tax credit EXHIBIT 8-8 Child Tax Credit Phase-Out Threshold Filing Status Phase-Out Threshold Married filing jointly $400,000 Married filing separately 200,000 Head of household and single 200,000Carolyn has AGI of 38800 all from earned income and two qualifying children and is filing head of household. WHat amount of earned income credit she entitled too?
- R Carolyn has an AGI of $39,500 (all from earned income) and two qualifying children and is filing as a head of household. What amount of earned income credit is she entitled to? (Exhibit 8-11) 0 50 O $2,085 O $3,657 O $4,008 O $6.164 % T Q Search (0 & V 8 CO (OA son qualifies for HOH filing status for a father who lives on his own in an apartment. The son provides over half of his fathers support. The father earns up to 4,400 in gross rental income of which he put 500.00 in savings. True or falseAllie and Buddy are married, file a joint return, and have one son, Zack, age 5. Buddy has earned income of $48,000, and Allie was a full-time student for nine months (with no income). They paid a qualified child care center $3,450. How much is Allie and Buddy's child and dependent care credit for the year? (tax year 2021) Use Child and Dependent Care Credit AGI schedule. Multiple Choice SO. $1,125. $1,725. $3,450.
- Alex earns an income of $60,000 this year as a sole proprietor. He pays the following amounts during the year: · Contribution to Roth IRA: $5,000 · Self-Employment Tax: $9,000 · Health Insurance Premiums: $3,000 What is Alex’s Adjusted Gross Income (AGI)? Group of answer choices $47,500. $51,000. $52,000. $52,500.Angelena files as a head of household. In 2021, she reported $54,900 of taxable income, including a $10,300 qualified dividend. What is her gross tax liability? (Round your answer to the nearest whole dollar amount.) (Use the tax rate schedules, long-term capital gains tax brackets.) Multiple Choice 24 of 31 Next OG $6.318 $5,188 $5,068 $6,571 BRUN < Prev JBoyd Salzer, an unmarried individual, has $231,750 AGI consisting of the following items: Salary Interest income Dividend income Rental income from real property Required: $ 204,000 5,350 8,550 13,850 a. Compute Mr. Salzer's Medicare contribution tax. b. Compute the Medicare contribution tax if Boyd Salzer files a joint income tax return with his wife, Harriet. × Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Compute Mr. Salzer's Medicare contribution tax. Note: Round your answer to the nearest whole dollar amount. Medicare contribution tax $ 1,206 x
