Nate and Nikki have two dependent children ages 12 and 15.Their modified AGI is $410,000.What is the amount of the child credit to which they are entitled?
A)$0
B)$500
C)$3,500
D)$4,000

Question

Quizplus · Accepted Answer

The child tax credit is worth up to $2,000 per qualifying child under the age of 17. However, it starts to phase out for single filers with a modified AGI above $200,000 or $400,000 for married filing jointly. Nate and Nikki's modified AGI exceeds the threshold for the phase-out, but they have two qualifying children, so they are entitled to a child credit of $3,000 ($2,000 per child).

Nate and Nikki Have Two Dependent Children Ages 12 and 15.Their