Question: if someone could amswee these it would be a huge help thanks 19) A dependent's only income for 2018 is $6,050 of taxable wages and
if someone could amswee these it would be a huge help thanks 19) A dependent's only income for 2018 is $6,050 of taxable wages and $840 of taxable interest on a savings account. The dependent's 2018 taxable income is:
a. $0.
b. $840.
c. $540.
d. $490.
e. $590.
31. In 2017, a couple pays $10,000 towards the adoption of a U.S. born child. The couple pays another $10,000 in 2018 when the adoption is finalized. In both years, AGI is less than $150,000. Which of the following statements best describes the couple's adoption credit?
a. The couple is entitled to a $10,000 adoption credit in 2017 and a $3,810 adoption credit in 2018.
b. The couple is entitled to a $20,000 adoption credit in 2018.
c. The couple is entitled to a $13,810 adoption credit in 2018, and will carryover $6,190 to 2019.
d. The couple is entitled to a $10,000 adoption credit in 2017, a $3,810 adoption credit in 2018, and will carryover $6,190 to 2019.
e. None of the above.
36. A married couple files a joint return. During 2018 they pay college tuition and fees for their two dependent children. Before taking the phase-out for excess AGI into consideration, the couple has calculated their American opportunity credit to be $2,300. If the couple's AGI is $112,000, their refundable education tax credit equals:
a. $1,380.
b. $0.
c. $690.
d. $920.
e. $1,035.
37. During 2018, an unmarried taxpayer paid tuition and fees of $8,000 on behalf of her dependent son, who is a full-time student attending his third year of college. If the taxpayer's AGI is $54,000, her total education tax credit equals:
a. $640.
b. $960.
c. $1,600.
d. $3,500.
e. $2,500.
38. During the year, a married couple pays $3,500 in qualified childcare expenses to a nanny to look after their 8-year-old son. The husband works and has $56,000 of wages during the year; the wife attended college as a full-time student for 10 months of the year. Based on the couple's AGI, the percentage they can use to compute their child and dependent care credit is 26%. The couple's child and dependent care credit is: a. $910. b. $780. c. $650. d. $1,000. e. $0.
40. A taxpayer's earned income and AGI are both $34,500. The taxpayer's total tax liability (before any tax credits) is $1,300. The taxpayer's only tax credits are an $840 child and dependent care credit and the child tax credit for two qualifying children. The taxpayer's refundable child tax credit is:
a. $2,800.
b. $460.
c. $0.
d. $1,540.
e. $700.
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