VERIFIED SOLUTIONS GRADED A+
⩥ What is the most advantageous filing status allowable that Fred can
claim on his tax return for 2024? Answer: Head of Household
⩥ Fred can claim a higher standard deduction because he is blind.
Answer: True
⩥ Basic Scenario 2 - Alex and Mary Walsh. Answer: Interview Notes:
Alex, age 31, and Mary, age 30, are married and will file a joint return.
They cannot be claimed as dependents by any other taxpayer.
Alex and Mary have no children or other dependents.
Alex and Mary both work and are not full-time students. Alex earned
wages of $12,000 and Mary earned wages of $4,000.
Alex and Mary are U.S. citizens and have valid Social Security numbers.
Alex and Mary have investment income of $300 in taxable interest.
⩥ Alex and Mary are not eligible to claim the Earned Income Tax Credit
(EITC). Answer: False
⩥ Alex and Mary's $300 of interest counts as earned income for the
Earned Income Tax Credit. Answer: False
, ⩥ Basic Scenario 3: Luis and Ana Ramirez. Answer: Interview Notes:
Luis and Ana Ramirez are married and always file Married Filing
Jointly.
Luis earned $26,000 in wages and Ana earned $8,500 in wages.
The Ramirezes paid all the cost of keeping up a home and provide all the
support for their two children, Elena and Jorge, who lived with them all
year.
Elena is 12 years old and Jorge is 16.
Luis, Ana, Elena, and Jorge are all U.S. citizens with valid Social
Security numbers and lived in the U.S. the entire year.
⩥ Which child qualifies the Ramirezes for the Child Tax Credit (CTC)?.
Answer: Elena and Jorge
⩥ The Ramirezes can claim a maximum refundable Additional Child
Tax Credit of $___________________. (Note: whole number only, do
not use special characters.). Answer: 3400
⩥ Basic Scenario 4 - Gavin and Molly Dowd. Answer: Interview Notes:
Gavin and Molly are married and will file a joint return.
Molly is a U.S. citizen with a valid Social Security number. Gavin is a
resident alien with an Individual Taxpayer Identification Number (ITIN).