Bob and Carol file their tax returns using the married filing jointly status. Their 2021 AGI is $162,500. They have two children, ages 11 and 5. How much child tax credit can Bob and Carol claim for their two children in 2021? Oa. $2,000 Оb. 55.950 Oc. $4,000 Od. $5,400 'e. $6,600
Bob and Carol file their tax returns using the married filing jointly status. Their 2021 AGI is $162,500. They have two children, ages 11 and 5. How much child tax credit can Bob and Carol claim for their two children in 2021? Oa. $2,000 Оb. 55.950 Oc. $4,000 Od. $5,400 'e. $6,600
Chapter6: Accounting Periods And Other Taxes
Section: Chapter Questions
Problem 17MCQ
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Transcribed Image Text:Taxpayers are allowed two tax breaks for adoption expenses. They are allowed:
Qualified Expenses
Paid personally
Paid by employer
a.
Exclusion
Exclusion
Exclusion
Credit
Oc.
Credit
Exclusion
Od.
Credit
Credit
Transcribed Image Text:Bob and Carol file their tax returns using the married filing jointly status. Their 2021 AGI is $162,500. They have two children, ages 11 and 5. How
much child tax credit can Bob and Carol claim for their two children in 2021?
Oa. $2.000
Ob. $5,950
Oc. $4,000
Od. $5,400
Oe. $6,600
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