Question

Cindy (age 41) is a surviving spouse and provides all the support of her two minor...

Cindy (age 41) is a surviving spouse and provides all the support of her two minor children who live with her (both are under age 16). She also maintains the household in which her parents live and furnished 65% of their support. Besides interest on City of Miami bonds in the amount of $5,500, Cindy’s father received $2,400 from a part-time job. Cindy has a salary of $95,000, a short-term capital loss of $2,000, a cash prize of $4,000 from a church raffle, and itemized deductions of $10,500. If she qualifies for the child tax credit and the dependent tax credit, what is her tax liability for tax year 2020?

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