In: Accounting
Trey has two dependents, his daughters, ages 14 and 17, at year-end (2018). Trey files a joint return with his wife.
What amount of child credit will Trey be able to claim for his daughters under each of the following alternative situations?
(a) His AGI is $106,900.
(b) His AGI is $425,600.
(c) His AGI is $421,900, and his daughters are ages 10 and 12.