Required: a. Compute their child credit if AGI on their joint return is $102,300. b. Compute their child credit if AGI on their joint return is $476,700. c. Compute their child credit if AGI on their joint return is $186,000 and assume that they also have one non-child dependent who meets the requirements for the child credit.
Required: a. Compute their child credit if AGI on their joint return is $102,300. b. Compute their child credit if AGI on their joint return is $476,700. c. Compute their child credit if AGI on their joint return is $186,000 and assume that they also have one non-child dependent who meets the requirements for the child credit.
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter10: Individuals: Income, Deductions, And Credits
Section: Chapter Questions
Problem 31P
Related questions
Question
Subject; accounting
Transcribed Image Text:Jeremiah and Jonnie Chaulk are married and have three dependent children, ages 3, 6, and 9. Assume the taxable year is 2022.
Required:
a. Compute their child credit if AGI on their joint return is $102,300.
b. Compute their child credit if AGI on their joint return is $476,700.
c. Compute their child credit if AGI on their joint return is $186,000 and assume that they also have one non-child dependent who
meets the requirements for the child credit.
Answer is complete but not entirely correct.
Complete this question by entering your answers in the tabs below.
Required A Required B Required C
Compute their child credit if AGI on their jant return is $476,700.
Note: Round your intermediate calculations to the nearest whole number.
Child Credit
$6,050
< Required A
Required C >
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Recommended textbooks for you
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT