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McGraw-Hill's Taxation of Individuals 3rd Edition by Brian Spilker,Benjamin Ayers,John Robinson,Edmund Outslay ,Ronald Worsham,John Barrick,Connie Weaver
Edition 3ISBN: 978-0077328368McGraw-Hill's Taxation of Individuals 3rd Edition by Brian Spilker,Benjamin Ayers,John Robinson,Edmund Outslay ,Ronald Worsham,John Barrick,Connie Weaver
Edition 3ISBN: 978-0077328368 Exercise 35
Julie paid a day care center to watch her two-year old son this year while she worked as a computer programmer for a local start-up company.What amount of child and dependent care credit can Julie claim in each of the following alternative scenarios
a.Julie paid $2,000 to the day care center and her AGI is $50,000 (all salary).
b.Julie paid $5,000 to the day care center and her AGI is $50,000 (all salary).
c.Julie paid $4,000 to the day care center and her AGI is $25,000 (all salary).
d.Julie paid $2,000 to the day care center and her AGI is $14,000 (all salary).
e.Julie paid $4,000 to the day care center and her AGI is $14,000 ($2,000 salary and $12,000 unearned income).
a.Julie paid $2,000 to the day care center and her AGI is $50,000 (all salary).
b.Julie paid $5,000 to the day care center and her AGI is $50,000 (all salary).
c.Julie paid $4,000 to the day care center and her AGI is $25,000 (all salary).
d.Julie paid $2,000 to the day care center and her AGI is $14,000 (all salary).
e.Julie paid $4,000 to the day care center and her AGI is $14,000 ($2,000 salary and $12,000 unearned income).
Explanation
Verified
Verified
Child and dependent care credit
Child a...
McGraw-Hill's Taxation of Individuals 3rd Edition by Brian Spilker,Benjamin Ayers,John Robinson,Edmund Outslay ,Ronald Worsham,John Barrick,Connie Weaver
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