You are a volunteer at an NYU Free Tax Clinic that serves the greaterYou are a volunteer at an NYU Free Tax Clinic that serves the greater west Greenwich Village community. Your first client is Jasmine, a single mother of three children who are all under the age of 12 and lived with her the entire year. She comes to you with the following information: Her gross wages (before ANY payroll deductions) were $45,000 She contributed 3% of her wages to her employer's 401(k) retirement savings plan She paid $2,600 in healthcare premiums (through employer payroll deductions) She paid $750 for summer day camp for the kids (while she worked) She prepaid $2,400 in federal income taxes She prepaid $800 in state income taxes You tell Jasmine that she is eligible to take the Child Tax Credit for her children. You then do some calculations to show her how much credit she can take. Limiting your answer to the nonrefundable tax credits on Jasmine's tax return, how much of the Child Tax Credit can Jasmine recognize on her tax return?

Answer rating: 100% (QA)

Jasmine can claim 3000 per child meaning a total of 9000 in nonrefundable Child Tax Credit for her 3 ... View the full answer