In 2018, George and Martha are married and file a joint tax return claiming their two children, ages 10 and 8 as dependents. Assuming their AGI is $119,650, George and Martha's child tax credit is:
A) $0.
B) $2,000.
C) $3,000.
D) $4,000.

Question

Quizplus · Accepted Answer

In 2018, the Child Tax Credit is $2,000 per qualifying child. Since George and Martha have two children, they are eligible for a total of $4,000 in child tax credits. Their AGI of $119,650 is below the phase-out threshold for married couples filing jointly, so they can claim the full credit.

In 2018, George and Martha Are Married and File a Joint