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  81) Chris and Sarah married with three qualifying children. Their

Question :   81) Chris and Sarah married with three qualifying children. Their : 2125634

 

81) Chris and Sarah are married with three qualifying children. Their AGI is $26,000. How much is their EIC (use the EIC formula)? (Round your answer to the nearest dollar)

A) $1,650.

B) $3,461.

C) $6,084.

D) $6,431.

82) George is a single father who has 2 qualifying children. His AGI is $22,000. How much is his EIC (use the EIC formula)? (Round your answer to the nearest dollar.)

A) $3,340.

B) $3,461.

C) $5,013.

D) $5,716.

83) Which of the following is not a qualifying child for purposes of calculating the EIC?

A) Son or daughter.

B) Grandson or granddaughter.

C) Eligible foster child.

D) All of these qualify.

84) Which of the following is always a refundable credit?

A) Foreign tax credit.

B) Lifetime learning credit.

C) Earned income credit (EIC).

D) Child and dependent care expenses credit.

85) Which of the following statements is false regarding the earned income credit (EIC)?

A) Maximum amount of the credit depends on the earned income and number of children.

B) The credit is refundable.

C) If certain requirements are met, a taxpayer may receive advance payments of EIC.

D) A taxpayer without children cannot claim the credit.

 

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