Howard is single and has a son age 15.Howard's adjusted gross income for 2016 is $80,000.What amount can he claim for the child tax credit?

Question

Quizplus · Accepted Answer

The child tax credit is worth up to $1,000 per qualifying child. However, the credit is phased out for higher-income taxpayers. As Howard's income is $80,000, he would have surpassed the phase-out limit of $75,000 for single taxpayers. Therefore, he would not be eligible for the child tax credit. The correct answer is $- 0 - (Choice A). However, this answer is not among the choices provided. The closest answer is D, which is $750, but this is not correct given Howard's income level.

Howard Is Single and Has a Son Age 15