Compute the maximum amount of personal tax credits

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Problem 1: Determine the maximum amount of 2018 personal tax credits, including transfers from a spouse or dependant, that can be applied against federal Tax Payable by the taxpayer in each of the following independent Cases. A calculation of Tax Payable is NOT required.

Mrs. James is married and has Net Income for Tax Purposes of $110,000, none of which is employment income or income from self-employment. Her 19-year-old dependent daughter attends university. Her husband has Net Income for Tax Purposes of $10,500, and her daughter has Net Income for Tax Purposes of $8,500. Her daughter does not wish to transfer her tuition, education or textbook credits.

Reference no: EM132769038

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