Question
Trey has two dependents, his daughters, ages 14 and 17, at year-end. Trey files a joint...
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?
b. His AGI is $426,400
c. His AGI is $429,200, and his daughters are ages 10 and 12.
Answers
Solution To qualefy for child tax Credit (CTC), child's agent must be under 17. 2018 per child tax credet - 2000 CTC is phase out 50 per 1000 or fraction in Excess AGI lenit Credit for other Dependent is 500 per person Excess AGI = (426400 - 400000) 26400/1000 = 2604 -(27 50) = 1350 CTC = ( 2000 -1350) Gedet for other dependent Total Child Credit . - 650 = 500 = 1150 Excess AGI = (429200 - 400000) . - 29200/1000 = 29.2 (30*50) = 1500 CTC = ( 2000.X2)-(1500) = 2500
Similar Solved Questions
1 answers
Let P(x) be the probability function of a discrete random variable x which assumes the values x1, x2, x3, x4, such that 2P(x1) = 3P(x2) = P(x3) = 5P(x4)
Let P(x) be the probability function of a discrete random variable x which assumes the values x1, x2, x3, x4, such that 2P(x1) = 3P(x2) = P(x3) = 5P(x4). Find the probability distribution of x....
1 answers
What is the temperature inside an ideal refrigerator-freezer that operates with a COP = 4.0 in...
What is the temperature inside an ideal refrigerator-freezer that operates with a COP = 4.0 in a 22∘C room??...
1 answers
Molecular formula is not given No forma For the IR spectrum, each major signal should be...
molecular formula is not given No forma For the IR spectrum, each major signal should be identified by wavenumber (stretching. frequency) and assigned to the corresponding bond. A conclusion about functional groups should also be drawn from the spectrum. In the C-NMR spectrum, the chemical shift of ...
1 answers
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility...
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company's costs: Fixed Cost per Month Cost per Car Washed $ 0.70 $ 0.07 $ 0.15 $ 0.20 Cleaning supplies Electricity Maintenance Wages and...
1 answers
Homilate completion.. Return to question QS 19-14 Converting variable costing income to absorption costing income LO...
homilate completion.. Return to question QS 19-14 Converting variable costing income to absorption costing income LO P3 Hong Co. had net income of $386,100 under variable costing. Beginning and ending inventories were 2,600 units and 3,900 units, respectively. Fixed overhead cost was $4.00 per unit ...
1 answers
5. What is antigenic shift? Explain the concept of antigenic shift with respect to influenza. How...
5. What is antigenic shift? Explain the concept of antigenic shift with respect to influenza. How does antigenic shift affect the efficacy of the vaccine? 6. Which strains of influenza typically infect humans? 7. What are the typical symptoms associated with influenza?...
1 answers
Foto Company makes 6,000 units per year of a part it uses in the products it...
Foto Company makes 6,000 units per year of a part it uses in the products it manufactures. The unit product cost of this part is computed as follows: $12.10 19.70 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Unit product cost $43.50 An outside supplier h...
1 answers
Por CPI LRAS, SRAS, AD AD, AD Y, Үр Ү, Yor Real GDP Suppose the economy...
Por CPI LRAS, SRAS, AD AD, AD Y, Үр Ү, Yor Real GDP Suppose the economy is producing the output level Yp, and a positive demand shock shifts the AD, curve to AD2. The economy now has __ A. a recessionary gap and expansionary fiscal policy can close the gap. B. an inflationary gap a...
1 answers
P1: 200kPa P2: 150kPa P3: 100kPa can someone explain to me why P1A1 and P2A2 for...
P1: 200kPa P2: 150kPa P3: 100kPa can someone explain to me why P1A1 and P2A2 for Frx has to be minus with 100? e.g: -(200-100) ???? Assampllows 1The flow is steady md mcmpre.uble 2The weight ofthe Unim ind de water u) ส x corection ctor for ench inet nd oulet is givn to b -1.03 Propertles ...
1 answers
Help me solve these two please O Rank the following substances in order of inceaning molar...
help me solve these two please O Rank the following substances in order of inceaning molar Solubility ( – smallest molar solubility ; S=largest Imolar solubility) in water at 25°C Ballz Ksp=4.0x/0-7 Balott), Ksp=s.oxl03 Ksp = 7.9x10 to Ksp = 8.9810-12 ksp= 2.5 X10-10 SoFz Mg(OH)2 CuCO3...
1 answers
How do you use the sum-to-product formulas to write the given expression as a product sin7θ-sin5θ?
How do you use the sum-to-product formulas to write the given expression as a product sin7θ-sin5θ?...
1 answers
Consider the flow net shown below: The sides of the region are groundwater divides; the top...
Consider the flow net shown below: The sides of the region are groundwater divides; the top boundary is the water table; and the bottom is an impermeable boundary. A) Label the equipotential with the appropriate value of hydraulic head (m); B) Draw arrows on the streamlines indicating the direction ...
1 answers
4) A risk-averse consumer with $100,000 in wealth faces 0.1 probability of losing half of his...
4) A risk-averse consumer with $100,000 in wealth faces 0.1 probability of losing half of his wealth within the next year. a. (5) What is the consumer's expected wealth one year from now? b. (5) An insurance company offers our consumer full insurance against the possible loss. What premium must ...
1 answers
Your company is deciding whether to invest in a new machine. The new machine will increase...
Your company is deciding whether to invest in a new machine. The new machine will increase cash flow by $324,000 per year. You believe the technology used in the machine has a 10-year life; in other words, no matter when you purchase the machine, it will be obsolete 10 years from today. The machine ...
1 answers
Given: 2H+(aq)+2e– ⇌H2(g);E°=0.00 Li+(aq)+e– ⇌Li(s);E°=–3.04V F2(g)+2e– ⇌2F–(aq);E°=2.87 Al3+(aq)+3e– ⇌Al(s);E°=–1.66V Pb2+(aq)+2e– ⇌Pb(s);E°=–0.13V Under standard-state conditions, which is...
Given: 2H+(aq)+2e– ⇌H2(g);E°=0.00 Li+(aq)+e– ⇌Li(s);E°=–3.04V F2(g)+2e– ⇌2F–(aq);E°=2.87 Al3+(aq)+3e– ⇌Al(s);E°=–1.66V Pb2+(aq)+2e– ⇌Pb(s);E°=–0.13V Under standard-state conditions, which is the s...
1 answers
Use the data on the white sheet on the left to complete PART 6. Show formula...
Use the data on the white sheet on the left to complete PART 6. Show formula used to create the classes and complete all of part 6 Class Pulses Part 4 -Class.Pulses and Group Pulses e mean, median, mode, range, and standard deviation for the data. Us e the correct symbols to describe the mean and s...
1 answers
18) If u = (-2,-6 3) and = - 3i-j , then the direction angle of...
18) If u = (-2,-6 3) and = - 3i-j , then the direction angle of the vector w = 4 - 3 7 is equal to: A) 300 D) E) 210 45°...