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Find what is the amount of the child tax credit

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Reference no: EM132675439

Problem 1: Amy and Hobbes are married and file a joint return. Their three children are 7, 9, and 18 years old. Their modified AGI is $58,000, and their tax liability on Form 1040, line 12a is $3,647. They have no other tax credits for the tax year. What is the amount of their child tax credit/credit for other dependents on Form 1040, line 13a?

Select one:

a. $4,500 This answer is incorrect. $4,500 is the maximum amount of CTC with two qualifying children and ODC with one qualifying dependent and no tax liability limitation.
b. $6,000
c. $3,647
d. $4,000

Reference no: EM132675439

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