221k views
5 votes
Midori and Tremaine are in the 24​% tax​ bracket, file​ jointly,

and take the standard deduction. How much will their tax bill be
reduced if they qualify for a ​$1900 refundable tax​ credit?

1 Answer

0 votes

Final answer:

If Midori and Tremaine qualify for a $1900 refundable tax credit, their tax bill will be reduced by $1900.

Step-by-step explanation:

Midori and Tremaine are in the 24% tax bracket, file jointly, and take the standard deduction. A tax credit is a direct reduction in the amount of tax owed, so it will reduce their tax bill dollar for dollar. If they qualify for a $1900 refundable tax credit, their tax bill will be reduced by $1900.

User Ionat
by
7.8k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories