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and they have two children earned income in 2020 was and adjusted gross income $27,000. They file a joint ret

and they have two children earned income in 2020 was and adjusted gross income $27,000. They file a joint ret

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sam and Betty Taylor maintain a home and they have two children. Their earned income in 2020 was $25,000 and adjusted gross income was $27,000. They file a joint return. What is the amount, if any, of their earned income tax credit for the year? Choose the right from below $4,299 $5,540 $4,721 $5,920
Transcribed Image Text:Sam and Betty Taylor maintain a home and they have two children. Their earned income in 2020 was $25,000 and adjusted gross income was $27,000. They file a joint return. What is the amount, if any, of their earned income tax credit for the year? Choose the right from below $4,299 $5,540 $4,721 $5,920
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