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Santiago and Amy are married and file a joint tax return claiming their three children, ages...

Santiago and Amy are married and file a joint tax return claiming their three children, ages 12, 14, and 18, as dependents. Their AGI is $140,000. Santiago and Amy's child tax credit for 2018 is $

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The child tax credit can be claimed by the tax payers those who have qualifying children i'e children who are dependent and with an age not more than 16 for the year 2018. The deduction for the each child is $ 2,000 for the year 2018. The phase out begins for married joint filers at $4,00,000.

Therefore Santiago and Amy can claim deduction for two children ,who are 12, 14.and for each child the deuction is $2,000 for 2018. Hence Santiago and amy child's tax credit for 2018 is $4,000( $2,000×2).

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