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The Franklins can claim a recovery rebate credit of $________ for Cristina on their 2020 tax return. g

Sagot :

Anthougoidn

Answer:

The Franklins can claim a recovery rebate credit of $__1,200______ for Cristina on their 2020 tax return.

Explanation:

The CARES Act provided economic relief payments, called "Economic Impact Payments" or stimulus payments, valued at $1,200 per eligible adult, based on household adjusted gross income (AGI), plus $500 for each additional qualifying dependent under 17 years of age.  According to the Act, these payments will continue through Dec. 31, 2020, and the Franklins will not be able to claim a recovery if Cristina is above 17 years.  The amount can still be claimed by all eligible taxpayers in 2021 when filing their 2020 tax returns.

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