Bob and Carol File Their Tax Returns Using the Married

question 56

Multiple Choice

Bob and Carol file their tax returns using the married filing jointly status. Their AGI is $132,500. They have two children, ages 11 and 7. How much child tax credit can Bob and Carol claim for their two children?

• A)$0
• B)$2,000
• C)$2,850
• D)$4,000
• E)None of the above is correct

---

Definitions:

Open-Book Account

An account that is open to charges made occasionally as needed.

Charges

Fees or payments required for services, or the formal accusations of wrongdoing.

Account Type

A classification that determines the features and rules applied to a financial or service account, such as savings, checking, or investment accounts.

Collections

The process or practices involved in pursuing payments of debts owed by individuals or businesses.