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How much can the claim on joint tax return

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Problem 1: Ted and Nancy have three children: Amal (age 14), Arwa (age 19), and Tom (age 21). Arwa works after school and earned $4,000 in 2019. Tom works 30 hours per week and is a part-time student at the local community college earning $8,400 in 2019. If Ted and Nancyâ s AGI in 2019 is $150,000, how much can they claim on their joint tax return for the child tax credit (not the refundable amount)?

Option 1: $6,000

Option 2: $4,500

Option 3: $4,000

Option 4: $2,000

Option 5: None of the above.

Reference no: EM132704460

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