For 2018 taxes
1) Assuming your 2 dependents qualify you for the full child tax credits:
2) Assuming you are using just the new 24,000 standard Deduction (not itemizing)
3) Assuming both parents have only W-2 income, (no self-employment income)
Total W-2 salary for both parents + interest, no capital gains to declare:
~$60,000 or less = no taxes...cannot use the $7,500 credit
~80,000 = ~$2,300 taxes to use against the $7,500 credit
~100,000 = ~$4,700 taxes to use against the $7,500 credit
~113,000 = ~$7,500 taxes to use against the $7,500 credit
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
