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This is to help those who struggled with the below. I could not solve the below and this took me hours with no help and still could not get 2 out of the 4. I hope this helps. The amounts will change but the solutions below will help solve for future.

Determine the amount of the child tax credit in each of the following cases:

Determine the amount of the child tax credit in each of the following cases: Explanation A taxpayer is entitled to a $3,000 credit for each qualifying child ($3,600 if the child is under age 6) unless limited by modified AGI. The first limitation starts at modified AGI of $75,000 (single), $112,500(HoH), and $150,000 (MFJ). That limitation cannot reduce the credit lower than $2,000 per child. The remaining credit is reduced by $50 for each $1,000, or fraction thereof, by which modifled AGI exceeds $400,000 (married) or $200,000 (all other taxpayers). a. $1,250. Without regard to the second limitation, the person is entitled to a child tax credit of $2,000. However, modified AGI exceeds the limitation by $14,900, rounded to 15 reductions of $50 each. Thus, the initial $2,000 credit is reduced by $700. b. $8,775. The modified AGl exceeds the $75,000 limitation by $3,000. The reduction is $4,5005%=225. So the initial $9,000 credit is reduced by $225. c. $3,500. Without regard to the $400,000 limitation, the couple is entitled to a child tax credit of $4,000. However, their modified AGI exceeds the limitation by $9,433, rounded to 10 reductions of $50 each. Thus, the initial $4,000 credit is reduced by $400. d. $3,000. The modified AGI limitation does not apply

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