Beverly is 72 years old and has net income for tax purposes of $56,000. Assume that the limitation of the age tax credit begins at $37,500 and that the base amount of the credit is $7,400. What is the age tax credit for Beverly under these assumptions?

Answer rating: 100% (QA)

Beverlys net income for tax purposes is 56000 The limitation of the age tax credit starts at 37500 ... View the full answer