Which of the following is not one of the general tax credit categories?
Which of the following statements regarding the child tax credit is false?
A)The child for whom the credit is claimed must be under the age of 15 at the end of the year
B)The credit is subject to phase-out based on the taxpayer's AGI
C)The full credit for a child who qualifies is $2,000
D)The child for whom the full credit is claimed must meet the definition of a qualifying child
Quantitatively, what is the relationship between the AGI phase-out thresholds for the child tax credit?
A)Head of household/Single = Married Filing Separately = Married Filing Jointly
B)Head of household/Single < Married Filing Separately < Married Filing Jointly
C)Head of household/Single = Married Filing Separately > Married Filing Jointly
D)Head of household/Single > Married Filing Separately < Married Filing Jointly
Rhianna and Jay are married filing jointly in 2019.They have six children under age 17 for whom they may claim the child tax credit.Their AGI was $419,400.What amount of child tax credit may they claim on their 2019 tax return?