Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. u.s tax law with 2019 revisions: problem 7-7 earne

U.S Tax law with 2019 revisions: Problem 7-7 Earned Income Credit (LO 7.2) Margaret and David Simmons are...

90.2K

Verified Solution

Question

Accounting

U.S Tax law with 2019 revisions:

Problem 7-7
Earned Income Credit (LO 7.2)

Margaret and David Simmons are married and file a joint incometax return. They have two dependent children, Margo, 5 years old(Social Security number 316-31-4890), and Daniel, who was bornduring the year (Social Security number 316-31-7894). Margaret'swages are $3,000, and David has wages of $14,000. In addition, theyreceive interest income of $200 during the year. Margaret and Daviddo not have any other items of income and do not have anydeductions for adjusted gross income.

Assuming the Simmons file Form 1040 for 2019, complete ScheduleEIC and the Earned Income Credit Worksheet A. Enter amounts aspositive numbers.

Click here to view the Earned Income Credit table.

Note: List children from oldest toyoungest.

Answer & Explanation Solved by verified expert
3.8 Ratings (734 Votes)
    See Answer
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

Basic Math
1.2K views

Nome Integrated Math II Tyler makes another drawing by rotating the inner quadrilateral He likes...

Physics
1.2K views

Before filling with dielectric a parallel plate capacitor has a capacitance of 6 F It...

Calculus
1.2K views

Which rule explains why these triangles are congruent J K SSS G H AAS

Calculus
1.2K views

Pluto has a radius of 700 miles As the planet rotates on its axis a...

Algebra
1.2K views

A bag contains 20 marbles of which 3 are blue and 7 are green One...

Accounting
1.2K views

Record the entry to close all expense accounts to income summary. Details: ...

Accounting
1.2K views

Problem 2-18 (Algo) Job-Order Costing for a Service Company [LO2-1, LO2-2, LO2-3] Speedy Auto Repairs...

Accounting
1.2K views

The following journal entry would be made in a processing costing system when units that...

Accounting
1.2K views

1. Denim for blue jeans are a product cost and direct material cost product cost...

Accounting
1.2K views

When a material inventory error is discovered in a period subsequent to when the error...

Finance
1.2K views

True or False: CAL (Capital Allocation Line) connects the risk-free rate and a risky portfolio...

Accounting
1.2K views

Ivanna, who has three children under age 13, worked full-time while her husband, Sergio, was...