Earned Income Credit
Response to the following problem:
For each of the following situations, compute the taxpayer's 2014 earned income credit.
a. Patty and Ron Barnett file a joint return, claiming their two sons, ages 3 and 5, as dependents. The Barnetts' AGI is $14,400, which consists entirely of Ron's wages.
b. Joseph is a 25-year-old graduate student. His gross income consists of $5,000 of wages, and $80 in interest from a savings account. Joseph files as single and claims no dependents.
c. Suzanne and Vernon Zimmerman file a joint return, claiming their 6-year-old daughter as a dependent. The Zimmermans' AGI consists of Vernon's $26,375 in wages, and $400 in dividend income.
d. Sarah files as head of household, claiming her 2-year-old son as a dependent. Sarah's AGI consists of $18,000 in wages and $3,520 in interest income