Evaluate the child credit for the subsequent taxpayer

Assignment Help Auditing

Reference no: EM1376695

1. Evaluate the child credit for the subsequent taxpayer.
Apple and James (who file a joint return)have two dependent children and 120,400 AGI.

I tried 120,400-110,00(limit)=10,400/1000=10.4*50=520 said it was wrong, I also round the 10.4 to 10*50 for 500 also wrong.

2. Adoption expenses
Jenny and Carl adopt a Russian orphan. The adoption takes two years and two trips to Russia and is final in 2012.They pay $6,000 in 2011 and $7500 n 2012 of qualified adoption expenses, and have AGI of 200,500.

How much credit would they claim?

Tried 200,000-189710(limit)=10,290/40,000=0.25725*13500=10027 -wrong also tried max of 12500 also wrong.

Reference no: EM1376695

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