Paul and Sally file a joint return showing $87,000 of AGI (with no exclusions under Secs.911,931,and 933).They have three dependent children ages 6,8,and 13.What is the amount of their child credit?
A)$0
B)$1,000
C)$2,000
D)$3,000

Question

Quizplus · Accepted Answer

The child tax credit is $2,000 per qualifying child under the age of 17. Paul and Sally have three qualifying children, so they are eligible for a total of $6,000. However, the credit begins to phase out at an AGI of $400,000 for joint filers, so they receive the full credit of $6,000.

Paul and Sally File a Joint Return Showing $87,000 of AGI