Question: Rose, a single parent, has two children ages 10 and 13. She earned $26,000 in 2019, and her investments eamed $2,000 Interest income. Taxable income
Rose, a single parent, has two children ages 10 and 13. She earned $26,000 in 2019, and her investments eamed $2,000 Interest income. Taxable income on her 2019 return was $20,000. After applying her withholding, Rose's tax due was $800. Using the following Earned Income Credit information, determine Rose's balance due/overpayment for 2019:
Credit figured using $28,000 adjusted gross income = $3,939
Credit figured using $26,000 earned income $4,360
Credit figured using $20,000 taxable income $5,624
Credit figured using $28,000 adjusted gross income = $3,939
Credit figured using $26,000 earned income $4,360
Credit figured using $20,000 taxable income $5,624
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