Reference no: EM132703995
Problem -
a. Jose and Jane are married and file a joint tax return claiming their three children, ages 4, 5, and 18, as dependents. Their AGI for 2018 is $125,400 and their pre-credit tax liability is $13,431. They are not claiming any other tax credits in 2018. Determine Jose and Jane's child tax credit for 2018.
b. Herb and Carol are married and file a joint tax return claiming their three children, ages 4, 5, and 18, as dependents. Their AGI for 2018 is $405,600 and their pre-credit tax liability is about $84,000. What is Herb and Carol's child tax credit for 2018?
c. Marie and Pierre Curry are married and file a joint tax return claiming their three children, ages 4, 5, and 16, as dependents. Their AGI for 2018 is $36,400 (all wage income) and their pre-credit tax liability is $383. Marie and Pierre's employers withheld $2,785 in Social Security and Medicare taxes in 2018. They are not claiming any other tax credits. Determine Marie and Pierre's child tax credit and additional child tax credit, if any, for 2018.
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