Question

Vanessa, a single mother, has three children, Mariah (7), Alejandro (12), and Brianna (18). Brianna is a full-time student. Vanessa's adjusted gross income is $68,950, and her tax liability is $5,757. All three children are Vanessa's qualifying child dependents. What is the total of Vanessa's Child Tax Credit and Other Dependent Credit?

Answer 1

The total of Vanessa's Child Tax Credit and Other Dependent Credit, based on her tax liability and children, is $5, 757.

What is the Child Tax Credit?

Child Tax Credit is a credit that tax payers are eligible for if they have children who depend on them. The age of the children is such that they have to be below the age of 19.

For every child that qualifies for the Child Tax credit, the tax payer gets a tax credit of $2, 000.

Vanessa has a total of 3 children who are below the age of 19 and so they all qualify which means that Vanessa qualifies for a Child Tax Credit of:

= 2, 000 x 3

= $6, 000

However, the child tax credit cannot exceed the actual tax liability of $5, 757.

Vanessa's Child Tax Credit and Other Dependent Credit is therefore the sum of $5, 757.

Find out more on Child Tax Credit at brainly.com/question/14328499

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