Trey has two dependents, his daughters, ages 14 and 18, at year-end. Trey files a joint return with his spouse. What amount of child tax credit (either as a child or a qualifying dependent) will Trey be able to claim in 2022 for his daughters under each of the following alternative situations? Required: His AGI is $100,000. His AGI is $420,000. His AGI is $420,100, and his daughters are ages 10 and 12.

Trey has two dependents, his daughters, ages 14 and 18, at year-end. Trey files a joint return with his spouse. What amount of child tax credit (either as a child or a qualifying dependent) will Trey be able to claim in 2022 for his daughters under each of the following alternative situations? Required: His AGI is $100,000. His AGI is $420,000. His AGI is $420,100, and his daughters are ages 10 and 12.

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter13: Tax Credits And Payment Procedures

Section: Chapter Questions

Problem 35P

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