Rudy and Rebecca have AGI of $156,000.They have twin daughters,Ashley and Amy,ages 5.What amount of child tax credit can they claim?
A)$0.
B)$1,000.
C)$2,000.
D)$2,300.

Question

Quizplus · Accepted Answer

For the tax year 2022, the Child Tax Credit reverts to $2,000 per qualifying child, but the credit begins to phase out for taxpayers with adjusted gross income (AGI) over $400,000 for married filing jointly and $200,000 for all other filers. Since Rudy and Rebecca's AGI is $156,000, they are below the phase-out threshold and would normally be eligible for the full credit. However, the question does not provide the correct amount based on the information given, leading to confusion. Given the options provided, none accurately reflect the expected amount based on the standard tax guidelines for the Child Tax Credit for two children at $2,000 each, which would be $4,000 total, not listed among the options. Therefore, the confusion in the question's structure and the provided options leads to the conclusion that none of the given choices accurately represent the correct Child Tax Credit amount based on the standard guidelines and the information provided about Rudy and Rebecca's situation.

Rudy and Rebecca Have AGI of $156,000