Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please help chloe, age 48, divorced her husband in

PLEASE HELP Chloe, age 48, divorced her husband in 2017. Chloes 4 year old grandson,...

80.2K

Verified Solution

Question

Accounting

PLEASE HELP

Chloe, age 48, divorced her husband in 2017. Chloes 4 year old grandson, Marcus, has been living with her since his parents were incarcerated in August 2019. Chloe provided all the support for Marcus and all the costs of keeping up their home in 2021. Chloe worked full time and earned $53,000. She received no other income in 2021. Marcus attends daycare while Chloe works. Chloe received a statement from the daycare provider showing she paid $5,980 for Marcus care for the year. She did not pay any 2020 expenses in 2021. Chloe received the third Economic Impact Payment (EIP 3) of $2,800 in 2021. Chloe received advance payments of the Child Tax Credit totaling $1,800 in 2021. Chloe and Marcus are both U.S. citizens, lived in the United States all year, and have valid Social Security numbers. No one else lives in the household with them.

Which of the following credits are nonrefundable for a taxpayer who lived in the U.S. for all of 2021? (Select all that apply)

A. Child Tax Credit

B. Earned Income Credit

C. Child and Dependent Care credit

D. Retirement Savings Contribution Credit

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students