Question: 5 . For problem number 4 above, what is Jane and Mike s tax liability for the tax year? a . What is the amount

5. For problem number 4 above, what is Jane and Mikes tax liability for the tax year?
a. What is the amount of their available child tax credits in addition to any credit amounts for those dependents that do not qualify for the child tax credit?
b. What would have been the total amount of their dependency exemptions if these had still been allowed? Do you believe that the child tax credit or the dependency exemption amounts are more favorable for taxpayers?

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