Sam and Kam are married and file a joint return with an AGI of $250,500. They have
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Question:
Sam and Kam are married and file a joint return with an AGI of $250,500. They have three dependent children ages 7, 10, and 17 (ages at the end of 2022). With respect to their children, what amount, if any, of Child Tax Credit and/or Dependent credit can Sam and Kam apply to their return?
a. $4,500
b. $6,000
c. $4,000
d. $0 because they exceed the threshold to apply any credit.
Related Book For
Concepts in Federal Taxation
ISBN: 9780324379556
19th Edition
Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher
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