What will be the amount of the additional child tax credit

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Reference no: EM133910413

Problem

James and Janet Jones file married joint, file Form 1040 and have five dependent children who live with them, aged two, four, five, nine, and ten years old. Their adjusted gross income (AGI) and earned income were the same, $68,000 for the year and their tax liability before credits and adjustments. The amount on line 18 of Form 1040 was $8,000. The Jones' are not eligible for the Child and Dependent Care Expense Credit, Education Credits, or any other credits that could reduce or eliminate their tax liability, other than the Child Tax Credit. Get the instant assignment help. What will be the amount of the Additional Child Tax Credit that they will be eligible for?

Reference no: EM133910413

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