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If your total income will be 200,000 or less ( 400,000 or less if married filing jointly): Multiply the number of qualifying children under age 17 by 2,000 square Multiply the number of other dependents by 500

Question

If your total income will be 200,000 or less ( 400,000
or less if married filing jointly):
Multiply the number of qualifying children under age 17 by 2,000
square 
Multiply the number of other dependents by 500

If your total income will be 200,000 or less ( 400,000 or less if married filing jointly): Multiply the number of qualifying children under age 17 by 2,000 square Multiply the number of other dependents by 500

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VesperMaster · Tutor for 5 years

Answer

Here, the question is instructing that if you have a total income of $200,000 or less, or if married is filing jointly with a total income of $400,000 or less, the calculation concerning the benefit due to dependents should go as follow :<br /><br />- You have to multiply the number of qualifying children under the age of 17 with $2,000.<br />- You need to multiply the number of other dependents with $500.<br /><br />The task implies usage of this info to probably calculate tax liability or potential tax credit.<br /><br />Answer:<br /><br />Explanation: Given that income is $200,000 or less (or even $400,000 or less if married filing jointly), persons with dependents need to consider two agreements:<br />- For every qualifying kid that is under seventeen, you obtain a set profit of $2,000.<br />- For all other dependents, you achieve a $500 gain per dependent. <br /><br />So apply the data provided to your scenario: multiply the number of qualifying children under seventeen by $2,000 for their respective benefit, and for other dependents multiply the total by $500 for their respective benefit.

Explain

Given that income is $200,000 or less (or even $400,000 or less if married filing jointly), persons with dependents need to consider two agreements:<br />- For every qualifying kid that is under seventeen, you obtain a set profit of $2,000.<br />- For all other dependents, you achieve a $500 gain per dependent. <br /><br />So apply the data provided to your scenario: multiply the number of qualifying children under seventeen by $2,000 for their respective benefit, and for other dependents multiply the total by $500 for their respective benefit.
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