on and Kate have 8 children. Their
Chapter6: Business Expenses
Section: Chapter Questions
Problem 67P
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![Jon and Kate have 8 children. Their current year AGI is 200,000 and consists exclusively of earned
income. They have $50,000 in childcare expenses If all of their kids are younger than age 17. Three of
the children are younger than age 6. What is the maximum refundable portion of the child tax credit?
O $12,800
O $25,800
O $4,000
$16,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8eeeef40-ec7d-43d9-88e8-9369c2062290%2Fcbafbc38-164b-406d-8d42-98d077a07bd5%2Fzbza0ns_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Jon and Kate have 8 children. Their current year AGI is 200,000 and consists exclusively of earned
income. They have $50,000 in childcare expenses If all of their kids are younger than age 17. Three of
the children are younger than age 6. What is the maximum refundable portion of the child tax credit?
O $12,800
O $25,800
O $4,000
$16,000
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