Margo and Jonah have two children,ages 13 and 17.Their modified AGI is $120,500.What is their child tax credit?
A)$450
B)$900
C)$1,000
D)$2,000

Name: Margo and Jonah have two children,ages 13 and 17.Their modified AGI is $120,500.What is their child tax credit? A)$450 B)$900 C)$1,000 D)$2,000
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A)$120,500 - $110,000 = 10,500.10,500/1,000 = 10.5,rounded to 11.11 × 50 = $550 reduction.$1,000 - 550 = $450 credit.The 17-year-old does not qualify for the credit.

Margo and Jonah Have Two Children,ages 13 and 17