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! Required information [The following information applies to the questions displayed below.] Trey has two...

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Accounting

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! Required information [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 wife. What amount of child tax credit (either as a child or a qualifying dependent) will Trey be able to claim in 2021 for his daughters under each of the following alternative situations? Use Exhibit 8-8. c. His AGI is $426,700, and his daughters are ages 10 and 12. Amount of child tax credit EXHIBIT 8-8 Child Tax Credit Phase-Out Threshold Filing Status Phase-Out Threshold Married filing jointly S400,000 Married filing separately 200,000 Head of household and single 200,000

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