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I Required information Problem 8-70(LO 8-4)(Algo) [The following information applies to the...

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Accounting

I
Required information
Problem 8-70(LO 8-4)(Algo)
[The following information applies to the questions displayed below.]
Trey has two dependents, his daughters, ages 14 and 18, at year-end. Trey files a joint return with his spouse.
What amount of child tax credit (either as a child or a qualifying dependent) will Trey be able to claim in 2023 for his daughters under each of the following alternative situations? Use Exhibit 8-8.
Problem 8-70 Part b (Algo)
b. His AGI is $422,000.
Amount of child tax credit
$,595
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