What is the amount of their child tax credit

Assignment Help Accounting Basics
Reference no: EM132856392

Question - 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?

a. $4,500

b. $6,000

c. $4,000

d. $3,647

Reference no: EM132856392

Questions Cloud

Examples of hazard control methods : What are some examples of hazard control methods that are recommended in hazard prevention and reduction techniques?
Find the adjusted baseline vector components : Find the most probable coordinates of stations B, D and E and Find the adjusted baseline vector components and their residuals
How much would Joey has to pay : On the 3rd year, Joey paid 500,000. If money is worth 12% compounded semi-annually, how much would Joey has to pay on the 5 ½th year
Compute the probability person getting a rare disease : Suppose that the probability of a person getting a certain rare disease is 0.0007. Consider a town of 10,000 people.
What is the amount of their child tax credit : 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
Gauge network effectiveness and efficiency : Write a report briefly describing the various metrics used to gauge network effectiveness and efficiency in meeting organizational goals.
Compute the mean and median of the residuals : The dataset teengamb concerns a study of teenage gambling in Britain. Fit a regression model with the expenditure on gambling as the response and the sex, statu
What two types of accounts will affected by adjusting entry : At the end of the year, Jennifer will record $6,000 for depreciation of the truck. What two types of accounts will be affected by this adjusting entry
Changes improve team performance : how would you implement these ideas within your organization? How would implementing these changes improve team performance?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd