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trapecia [35]
3 years ago
6

Russ and Linda are married and file a joint tax return claiming their three children, ages 4, 7, and 18, as dependents. Their ad

justed gross income for 2019 is $415,300. What is Russ and Linda's total child and other dependent credit for 2019?
Business
1 answer:
hoa [83]3 years ago
5 0

Answer:

$3,700

Explanation:

Given that

Adjusted gross income for the year 2019 = $415,300

Children ages = 4, 7, and 18 as dependents

Based on the given information, Russ and Linda's total child and other dependent credit for the year 2019 is

= (Maximum amount per qualifying child + non-refundable tax credit) - (deductible amount × age)

= ($2,000 × 2 + $500) - ($50 × 16)

= $4,500 - $800

= $3,700

After $400,000 the $50 is decreased for each and every $1,000

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Frans Johansson believes that innovation may be accomplished by combining ideas from many fields and sectors. He emphasized the value of varied teams and how different viewpoints will aid in the creation of enhanced ideas.

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6 0
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