Answered: J and K are a married couple filing…

J and K are a married couple filing jointly, with two children age 14 and 18. They have adjusted gross income of $417,250 for 2018. How much is their allowable child tax credit?

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter12: Tax Credits And Payments

Section: Chapter Questions

Problem 15CE

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Question

J and K are a married couple filing jointly, with two children age 14 and 18. They have adjusted gross income of $417,250 for 2018. How much is their allowable child tax credit?

a. $1,638

b. $2,000

c. $1,100

d. $1,600

e. $2,500

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