David and Lilly Fernandez have determined their tax liability on their joint tax return to be $1,705.
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Question:
David and Lilly Fernandez have determined their tax liability on their joint tax return to be $1,705. They have made prepayments of $1,965 they receive a child tax credit of $2,000, and a recovery rebate credit of $2,900 (they did not receive this in advance).
What is the amount of their tax refund or taxes due?
Description | Amount | |
1 | Total Tax | 1705 |
2 | Child Tax Credit | |
3 | Prepayments | |
3 | Recovery Rebate Credit | |
Tax Refund |
Need help filling in the rest of the table. I previously answered $2000 for child tax credit and $1965 for prepayments but they were marked incorrect.
Related Book For
Essentials of Federal Taxation 2019
ISBN: 9781260190045
10th edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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