Jessie is 65 and has taxable income of $66 000.She would have her age amount credit fully clawed back.

Name: Jessie is 65 and has taxable income of $66 000.She would have her age amount credit fully clawed back.
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Question

Quizplus · Accepted Answer

The age amount credit for individuals 65 years of age or older is subject to a clawback based on net income levels, but the clawback does not fully eliminate the credit until the individual's net income exceeds a specific threshold, which is higher than $66,000.

Jessie Is 65 and Has Taxable Income of $66 000