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What is the earned income credit for Tom

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A. Tom is married and file tax jointly. His family has AGI $80000, the dental and medical expense is $10500, the income tax, real estate property tax and personal property tax are $17000. The mortgage interest is $12000. The donation is $1000. What is his itemized deduction? He should use itemized deduction or standard deduction? Why? You can use schedule A if you prefer.

B. What is the earned income credit for Tom who is married and have 2 kids and file tax jointly if his earned income is $51500 and his AGI is $42000?

Reference no: EM132980499

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