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Archie and Tina Reynolds are married and always file Married Filing Jointly.
Archie earned $32,000 in wages and Tina earned $24,000 in wages.
The Reynolds paid all the cost of keeping up a home and provided all the support for their two children, Laura and Timothy, who lived with them all year.
Laura is 13 years old and Timothy turned 17 in November 2021.
Archie and Tina elected not to receive the advance child tax credit payments.
Archie and Tina did not have enough deductions to itemize, but contributed $1,700 in 2021, to their church, a qualified charitable organization.
Archie, Tina, Laura, and Timothy are all U.S. citizens with valid Social Security numbers and lived in the U.S. the entire year.
Which of the Reynolds children qualifies for the child tax credit (CTC)?

Sagot :

Based on the information given, it can be noted that the child that qualifies for the will be Laura.

What Is Tax Credit?

A tax credit simply means an amount of money that a taxpayer is expected to deduct from the tax that will be paid.

In this case, it can be noted that the child that qualifies for the tax credit will be Laura. Timothy isn't a qualifying child because he has turned 17.

In conclusion, the clause is typically for children below 17 years.

Learn more about tax on:

https://brainly.com/question/17395659

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