Harry and Wilma are married and file a joint income tax return.On their tax return,they report $44,000 of adjusted gross income ($20,000 salary earned by Harry and $24,000 salary earned by Wilma)and claim two exemptions for their dependent children.During the year,they pay the following amounts to care for their 16-year old son and 6-year old daughter while they work. Harry and Wilma may claim a credit for child and dependent care expenses of:
A)$840.
B)$1,040.
C)$1,200.
D)$1,240.
E)None of the above.

Question

Harry and Wilma are married and file a joint income tax return.On their tax return,they report $44,000 of adjusted gross income ($20,000 salary earned by Harry and $24,000 salary earned by Wilma)and claim two exemptions for their dependent children.During the year,they pay the following amounts to care for their 16-year old son and 6-year old daughter while they work.  Harry and Wilma may claim a credit for child and dependent care expenses of:
A)$840. 
B)$1,040. 
C)$1,200. 
D)$1,240. 
E)None of the above.

Quizplus · Accepted Answer

The Answer of Harry and Wilma are married and file a joint income tax return.On their tax return,they report $44,000 of adjusted gross income ($20,000 salary earned by Harry and $24,000 salary earned by Wilma)and claim two exemptions for their dependent children.During the year,they pay the following amounts to care for their 16-year old son and 6-year old daughter while they work.  Harry and Wilma may claim a credit for child and dependent care expenses of:
A)$840. 
B)$1,040. 
C)$1,200. 
D)$1,240. 
E)None of the above.

Harry and Wilma Are Married and File a Joint Income