FP101_r5_Wk8_Ramsay_Tax_Return

You are filing form 2555 or form 2555 ez you agi is

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Unformatted text preview: ). You are filing Form 2555 or Form 2555-EZ. You AGI is more than the amount shown below for your filing status: Married filing jointly - $110,000 1. Single, head of household, or qualifying widow(er) - $75,000 2. Married filing separately - $55,000 3. You are claiming any of the following credits: Mortgage Interest Credit (Form 8396) 1. Adoption Credit (Form 8839) 2. D.C. First-time Homebuyer Credit (Form 8859) 3. Residential energy efficient property credit (Form 5695) 4. If one of these conditions applies we null out lines 4 and 5 and complete lines 6-15. 4. Are the amounts on lines 2 and 3 the same? Yes - STOP! You can't take the child tax credit because there's no tax to reduce. You may qualify for the additional child tax credit. No - Subtract line 3 from 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Continue with line 5. 5. Is the amount on line 1 greater than the amount on line 4? Yes - Enter the amount from line 4. You may qualify for the additional child tax credi...
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This note was uploaded on 02/03/2014 for the course FP/101 FP/101 taught by Professor Nicoleramig during the Winter '10 term at University of Phoenix.

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