ANorm and Linda Are Married, File a Joint Return, and Have

question 37

Essay

a.Norm and Linda are married, file a joint return, and have one 5-year-old child.Their adjusted gross income is $436,000.What is their child credit for the current year?
b.If Norm and Linda had a 3-year-old as well as the 5-year-old and an 18-year-old from Linda's first marriage, what would their total child tax credit and other dependent credit be for the current year?
b.above, how many children qualify for the child tax credit? Explain.
c.In

---

Definitions:

Patent

A government grant that gives an inventor exclusive rights to make, use, and sell an invention for a certain period of time.

Sonny Bono Copyright Term Extension Act

An act that extended copyright terms in the United States, adding 20 years to the life of copyrights existing or created after its passage.

Pre-1978 Works

Creative works created before 1978, which have specific considerations under copyright law regarding protection and public domain.

Assignment

The transfer of rights, property, or responsibilities from one party (the assignor) to another (the assignee).