Basic Scenario 3: Sebastian and Ashley Miller Interview Notes • Sebastian and Ashley Miller are married and always file Married Filing Jointly. • Sebastian earned $32,000 in wages and Tina earned $24,000 in wages. • The Millers paid all the cost of keeping up a home and provided all the support for their tw children, Laura and Timothy, who lived with them all year. • Laura is 14 years old and Timothy turned 17 in November 2022
Basic Scenario 3: Sebastian and Ashley Miller Interview Notes • Sebastian and Ashley Miller are married and always file Married Filing Jointly. • Sebastian earned $32,000 in wages and Tina earned $24,000 in wages. • The Millers paid all the cost of keeping up a home and provided all the support for their tw children, Laura and Timothy, who lived with them all year. • Laura is 14 years old and Timothy turned 17 in November 2022
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
7.
please both and show work
Transcribed Image Text:Basic Scenario 3: Sebastian and Ashley Miller
Interview Notes
• Sebastian and Ashley Miller are married and always file Married Filing Jointly.
●
• Sebastian earned $32,000 in wages and Tina earned $24,000 in wages.
• The Millers paid all the cost of keeping up a home and provided all the support for their two
children, Laura and Timothy, who lived with them all year.
• Laura is 14 years old and Timothy turned 17 in November 2022.
• Sebastian and Tina did not have enough deductions to itemize, but contributed $1,500 in 2022
to their church, a qualified charitable organization.
• Sebastian, Ashley, Laura, and Timothy are all U.S. citizens with valid Social Security numbers
and lived in the U.S. the entire year.
Basic Scenario 3: Retest Questions
5. The Millers do not qualify for the Child Tax Credit (CTC).
a. True
b. False
6. What amount can Sebastian and Ashley deduct as a charitable contribution?
a. $0
b. $600
c. $1,200
d. $1,500
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