Rhianna and Jay Are Married Filing Jointly in 2018

question 94

Multiple Choice

Rhianna and Jay are married filing jointly in 2018.They have six children under age 17 for whom they may claim the child tax credit.Their AGI was $419,400.What amount of child tax credit may they claim on their 2018 tax return?

• A)$12,000
• B)$11,050
• C)$11,000
• D)$6,000

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Definitions:

Businesses

Businesses refer to organizations or entities engaged in commercial, industrial, or professional activities, aiming to generate profits.

Cash Account Balance

The amount of money available in a company’s or individual's cash account at a given time.

Cash Receipts

Money received by a business during a given period, including cash sales, received payments on accounts receivable, and other cash inflows.

Cash Payments

Payments made in the form of currency or check to settle a transaction or account.