Question: MULTIPLE CHOICE PROBLEMS A sample of multiple choice Cultiple choice problems is provided below. Additional multiple choice problems mailable at money-education.com by accessing the Student
MULTIPLE CHOICE PROBLEMS A sample of multiple choice Cultiple choice problems is provided below. Additional multiple choice problems mailable at money-education.com by accessing the Student Practice Portal 1. Brandy is a single mom with 2 chil single mom with 2 children, Zach and Wendy. Zach is 14 years old and Wendy is 3 years old d. Brandy has AGI of $50,000. She paid the following expenses for child care thie $300 to Zach to care for Wendy so Brandy could go out to dinner with friends. $1,000 for an after-school program for Zach. $3,500 to Brandy's mother for the care of Wendy during the day. year: What is Brandy's available child and dependent care credit? a. $0. b. $200. c. $600 d. $700. 2. Sara, who is single, contributed $5,500 to her Roth IRA for 2018. She had MAGI of $17,000 for 2018 and used the single filing status. She has never taken a distribution from a retirement plan. What is her maximum retirement savings credit for 2018? a. $0. b. $200. c. $1,000 d. $2,000. 5. Andy's second wife, Gina, died several years ago. Andy and Gina had two children together, Sara and Ben (twins, age 6) and they had adopted a child Andrew (age 10). Andy also had a child, Angela, age 18, with his first wife. Andy's fianc (who also lives with Andy) gave birth to Andy's biological child, Sue Ellen, in November of the current year. All five children live with Andy and he claims all of them as dependents. Andy's AGI for the current year is $60,000 and he files head of household. What is Andy's available child tax credit? a. $2,000. b. $4,000. c. $8,000. d. $10,000
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
