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Trey has two dependents, his daughters, ages 14 and 18, at year-end. Trey files a...

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Accounting

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 2022 for his daughters under each of the following alternative situations? Use Exhibit 8-8.

Required:

His AGI is $108,800.

His AGI is $427,000.

His AGI is $420,800, and his daughters are ages 10 and 12.

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