In 2018, Zach is single with no dependents. He is not claimed as a dependent...
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In 2018, Zach is single with no dependents. He is not claimed as a dependent on anothers return. All of his income is from salary and he does not have any for AGI deductions. What is his earned income credit in the following alternative scenarios? Use Exhibit 8-10. (Round your intermediate computations to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.)
1. Zach is 29 years old and his AGI is $6,200.
2. Zach is 29 years old and his AGI is $10,100.
3. Zach is 29 years old and his AGI is $18,600.
4. Zach is 24 years old and his AGI is $6,200.
EXHIBIT 8-1O 2018 Earned Income Credit Table No Credit When AGI (or earned income if greater) Equals or Exceeds This Amount (4) + [(3)/(5)] Credit Phase Out for AGI (or earned income if Maximum Earned Maximum greater) Qualifying Income Eligible Children Credit Over This Phase-Out for Credit Credit % | (1) (2) AmountPercentage $6,780 10,180 14,290 14,290 Married taxpayers filing joint returns $14,170 24,350 24,350 24,350 7.65% | $ 519 3,461 5,716 6,431 $20,950 46,010 51,492 54,884 0 34 40 45 15.98 21.06 21.06 2 All taxpayers except married taxpayers filing joint returns $6,780 10,180 14,290 14,290 7.65% | $ 519 3,461 5,716 6,431 $ 8,490 18,660 18,660 18,660 $15,270 40,320 45,802 49,194 0 34 40 45 15.98 21.06 21.06 2
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