Elodie works full-time and earns a substantial salary, while her spouse, Pierre, is a stay-at-home parent who works part-time at their children's school, earning $ 7,000 annually. For 2024, the federal spousal amount is $15, 705. Based on this information, how much can Elodie claim as a spousal tax credit on her tax return? ( Hint: The non-refundable tax credit rate is 15%.) Select one: a. $1,655 b.$ 1, 3060 $1,431 d. $1,210

Income Tax Fundamentals 2020
38th Edition
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Author:WHITTENBURG
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Chapter2: Gross Income And Exclusions
Section: Chapter Questions
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Elodie works full-time and earns a substantial salary, while her spouse, Pierre, is a
stay-at-home parent who works part-time at their children's school, earning $
7,000 annually. For 2024, the federal spousal amount is $15, 705. Based on this
information, how much can Elodie claim as a spousal tax credit on her tax return? (
Hint: The non-refundable tax credit rate is 15%.) Select one: a. $1,655 b.$
1, 3060 $1,431 d. $1,210
Transcribed Image Text:Elodie works full-time and earns a substantial salary, while her spouse, Pierre, is a stay-at-home parent who works part-time at their children's school, earning $ 7,000 annually. For 2024, the federal spousal amount is $15, 705. Based on this information, how much can Elodie claim as a spousal tax credit on her tax return? ( Hint: The non-refundable tax credit rate is 15%.) Select one: a. $1,655 b.$ 1, 3060 $1,431 d. $1,210
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