n 2020, Amanda and Jaxon Stuart have a daughter who is 1 year old. The Stuarts are full-time students and they are both 23 years old. Their only sources of income are gains from stock they held for three years before selling and wages from part-time jobs. What is their earned income credit in the following alternative scenarios if they file jointly? Use Exhibit 8-10(https://ezto-cf-media.mheducation.com/Media/Connect_Production/bne/accounting/spilker_12e/exhibit_8_10_new.htm).  a. Their AGI is $15,000, consisting of $5,000 of capital gains and $10,000 of wages. Q: what is earned income credi

Mr. and Mrs. Grnager are both full-time employees. Their three children are 16, 6, and 3 years old. The Grangers paid $13,750 in qualifying expenses for their two youngest children's child care in 2021. How much of their qualifying expenses can they consider when claiming the Child and Dependent Car Credit?

Tim and Martha paid $9,600 in qualified employment-related expenses for their three young children who live with them in their household. Martha received $1,400 of dependent care assistance from her employer, which was properly excluded from gross income. The couple had $57,350 of AGI earned equally. Use Child and Dependent Care Credit AGI schedule. Required: a. What amount of child and dependent care credit can they claim on their Form 1040? b. How would your answer differ (if at all) if the couple had AGI of $39,900 that was earned entirely by Martha? a. Child and dependent care tax credit b. Child and dependent care tax credit Amounts

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