Answer:
Compute their child credit if AGI on their joint return is $91,300.
Child tax credit for 2019 was $2,000 per qualifying child under 16
total child tax credit = $2,000 x 3 = $6,000
Compute their child credit if AGI on their joint return is $465,700.
Child tax credit for 2019 was $2,000 per qualifying child under 16, but if phases out after $400,000. For each $1,000 above the threshold, the tax credit is reduced by $50.
total child tax credit = $6,000 - (66 x $50) = $6,000 - $3,300 = $2,700
Compute their child credit if AGI on their joint return is $197,000.
Child tax credit for 2019 was $2,000 per qualifying child under 16, plus $500 per qualifying dependent that is not a child.
total child tax credit = $6,000 + $500 = $6,500
