Alice is a single mother, 37 years old, and has two qualifying children, ages 3 and 6.
Question:
Alice is a single mother, 37 years old, and has two qualifying children, ages 3 and 6. In 2016, she receives $3,600 alimony and earns $18,000 in wages resulting in $21,600 of AGI. Is Alice eligible for the earned income credit?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 76% (13 reviews)
Alice is eligible for the earned income credit EIC both because she has qua...View the full answer
Answered By
Issa Shikuku
I have vast experience of four years in academic and content writing with quality understanding of APA, MLA, Harvard and Chicago formats. I am a dedicated tutor willing to hep prepare outlines, drafts or find sources in every way possible. I strive to make sure my clients follow assignment instructions and meet the rubric criteria by undertaking extensive research to develop perfect drafts and outlines. I do this by ensuring that i am always punctual and deliver quality work.
5.00+
6+ Reviews
13+ Question Solved
Related Book For
Federal Taxation 2017 Individuals
ISBN: 9780134420868
30th Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
Question Posted:
Students also viewed these Business questions
-
The earned income credit aCannot exceed the amount of the tax liability bIs available to married taxpayers who file separate returns cIs available only if the taxpayer has qualifying children dMust...
-
A single taxpayer is 26 years old and has wages of $18,000 and interest income of $450. Which is the simplest tax form this person can file? a. 1040. b. 1040EZ. c. 1040A. d. 1040Z.
-
A single taxpayer is 26 years old and has wages of $18,000 and interest income of $450. Which Form 1040 Schedule must the taxpayer use? a. Schedule 1. b. Schedule 2. c. Schedule 3. d. The taxpayer...
-
You are considering an investment that will be valued at $1,000 one year from now. Your next best alternative investment opportunity would yield an annual rate of return of 8%, In other words, if you...
-
When a pure substance is placed in contact with water, there are three possible outcomes. The substance may do nothing that is, the substance does not dissolve and no visible change takes place. The...
-
The International Bank of Commerce (IBC) is an audit client of your public accounting firm. IBC is a multinational financial institution that operates in 23 countries. During the current years audit,...
-
Data set: Retirement ages of 35 Statistics professors Construct a cumulative frequency distribution and an ogive for the data set using six classes. Then describe the location of the greatest...
-
Wick Company uses the columnar cash journals illustrated in the textbook. In April, the following selected cash transactions occurred. 1. Made a refund to a customer as an allowance for damaged...
-
Marty, age 56, and Marcia, age 53, are starting to think about retirement. Marty plans to retire at age 65 and he expects to live to age 85. Marcia plans to retire at age 62 and she expects to live...
-
The following is a December 31, 2024, post-closing trial balance for Almway Corporation. Additional Information: 1. The investment in equity securities account includes an investment in common stock...
-
What types of business property qualify for the business energy credit?
-
William and Maria Smith are a married couple filing jointly. They have no children and report the following items in 2016: Taxable...
-
Suppose it is of interest to use the data sets in Exercises 1.24 and 1.25 to derive a model that would predict staff salaries as a function of percent of families in a high income level for current...
-
Write a shell script which prints out the command line arguments as follows: $ ./script x y z $1 = x $2= y $3= Z
-
A bank is in the process of renegotiating an $100 million loan. If liquidated, it expects to receive $96 million. The new loan will lower interest rates to 6.5% and extend the maturity to seven...
-
what ways do protein-protein interactions within the cellular signaling pathways influence the cellular response to extracellular stimuli, and how do disruptions in these pathways lead to aberrant...
-
Phillips Curve: = E 0.5(u 6) Expected inflation: E = 0.71 + 0.32 Okun's Law: (Y Y1)/Y1 = 3.0 2.0(ut ut1) Economy begins at natural rate of unemployment with inflation stable at 5%. What is...
-
Let x = {a,b,c} and P(x) be the power set of x. A relation R is defined on P(x) as follows: For all A, B = P(x), ARB the number of elements in A is not equal to the number of elements in B. [Note:...
-
Evaluate the integral. -3t te dt
-
This problem continues the Draper Consulting, Inc., situation from Problem 12-45 of Chapter 12. In October, Draper has the following transactions related to its common shares: Oct 1 Draper...
-
What is an ad valorem tax? If a tax that is levied on personal property is not an ad valorem tax, under what circumstances may it still be deductible?
-
When real estate is sold during a year, why is it necessary that the real estate taxes on the property be apportioned between the buyer and seller?
-
a. Identify the different categories of interest expense an individual may incur. How is the classification of the interest determined? b. Are these different categories of interest deductible? If...
-
The figure below shows forces acting at various points on a metal shaft. The angles a = 40, = 29, y = 17. The length = 4.4 m. Find the net torque (in N m) on the shaft about the following axes. 25 N...
-
How can cross-functional teams, comprising members from diverse departments and disciplines, navigate the challenges of differing perspectives, knowledge bases, and work processes to achieve project...
-
What are the unique challenges and opportunities associated with virtual teams and remote collaboration, and how can technology, communication tools, and best practices be leveraged to overcome...
Study smarter with the SolutionInn App