Question

Diane is a single taxpayer who qualifies for the earned income credit. Diane has two qualifying...

Diane is a single taxpayer who qualifies for the earned income credit. Diane has two qualifying children who are 3 and 5 years old. During 2019, Diane's wages are $18,900 and she receives dividend income of $900.

Earned Income Credit Phase-Out Ranges
Number of Qualifying Children Other than joint filers Joint filers
Phaseout Begins Phaseout Ends Phaseout Begins Phaseout Ends
None $8,650 $15,570   $14,450   $21,370  
1 19,030 41,094 24,820 46,884
2 19,030 46,703 24,820 52,493
3 or more 19,030 50,162 24,820 55,952

Calculate Diane's earned income credit using the EIC table in Appendix B.
$

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Diane is a single taxpayer who qualifies for the earned income credit. Diane has two qualifying...
Diane is a single taxpayer who qualifies for the earned income credit. Diane has two qualifying children who are 3 and 5 years old. During 2019, Diane's wages are $18,900 and she receives dividend income of $900. Earned Income Credit Phase-Out Ranges Number of Qualifying Children Other than joint filers Joint filers Phaseout Begins Phaseout Ends Phaseout Begins Phaseout Ends None $8,650 $15,570 $14,450 $21,370 1 19,030 41,094 24,820 46,884 2 19,030 46,703 24,820 52,493 3 or more 19,030 50,162...
The two factors that may limit the maximum child tax credit of $1000 per qualifying child...
The two factors that may limit the maximum child tax credit of $1000 per qualifying child are: A. Tax liability and earned income above the phaseout thresholds for three or more children. B. Earned income above the phaseout thresholds and taxpayer filing status. C. Tax liability and modified adjusted gross income above the phase out thresholds. D. Modified adjusted gross income above the phaseout thresholds and three or more children.
Carolyn has an AGI of $38,000 (all from earned income), two qualifying children, and is filing...
Carolyn has an AGI of $38,000 (all from earned income), two qualifying children, and is filing as a head of household for 2018. What amount of earned income credit is she entitled to? (Exhibit 8-10) A) $0 B) $1,643 C) $3,461 D) $4,073 E) $5,716 Hint: Don’t forget the phase-out
For purposes of claiming the Earned Income Credit, a qualifying child could be any of the...
For purposes of claiming the Earned Income Credit, a qualifying child could be any of the following except A. Your 20-year-old unemployed child. B. Your child who is less than 19 years old. C. Your 22-year-old grandson who is a full-time student. D. Your 40-year-old permanently disabled stepson. All of the following qualify as work-related expenses for computing the child and dependent care credit except A. The parent-employer’s portion of Social Security tax paid on wages for a person to...
1----pedro, who is a dependent of another taxpayer for the year, earned $1,000 in interest income...
1----pedro, who is a dependent of another taxpayer for the year, earned $1,000 in interest income and $1,500 from a part-time job. pedros standard deduction for the year will be $1,100. true or false 2----pedro and Susan are a married couple with three dependent children. During the year, S dies and T does not remarry. Determine T's filing status for the year. 3--- In 2017, T purchased a parcel of real property for $350,000 using $25,000 in cash and $325,000...
Reba Dixon is a fifth-grade school teacher who earned a salary of $38,000 in 2018. She...
Reba Dixon is a fifth-grade school teacher who earned a salary of $38,000 in 2018. She is 45 years old and has been divorced for four years. She receives $1,200 of alimony payments each month from her former husband (divorced in 2016). Reba also rents out a small apartment building. This year Reba received $50,000 of rental payments from tenants and she incurred $19,500 of expenses associated with the rental. Reba and her daughter Heather (20 years old at the...