34. Under which of the following situations would a taxpayer : 2125653
34. Under which of the following situations would a taxpayer most likely take the foreign taxes paid as an itemized deduction rather than as a foreign tax credit?
a. The foreign tax paid was less than 15%.
b. The foreign tax paid was to a European country.
c. The foreign tax paid was a property tax.
d. The foreign tax paid was a tax on dividend income.
35. Justin and Janet, whose AGI is $456,000, have one daughter, age 5. How much child tax credit can they take?
36. Julian is a single father with a son, Alex, who is 8 years old. If Julian’s AGI is $187,000, what is his child tax credit for Alex?
37. Jerry and Ellen are married filing jointly with AGI of $45,000. They made a $1,500 contribution to a qualified retirement plan. How much is their retirement savings contributions credit?
38. Marcia is a single filer and has AGI of $26,000. During the year, she contributed $800 to a Roth IRA. What amount of retirement savings contributions credit can Marcia take?