Which of the following individuals or couples qualify for the child and dependent-care credit?
I.Lois is single and earns $45,000 for the year. She pays $2,600 in child-care costs for her 8-year-old daughter.
II.Patrick and Carol are married and together they earn $67,000 ($42,000 and $25,000 respectively). They pay $5,000 in child-care costs for their twin boys, age 11.

Question

Which of the following individuals or couples qualify for the child and dependent-care credit?
I.Lois is single and earns $45,000 for the year. She pays $2,600 in child-care costs for her 8-year-old daughter.
II.Patrick and Carol are married and together they earn $67,000 ($42,000 and $25,000 respectively). They pay $5,000 in child-care costs for their twin boys, age 11.
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Quizplus · Accepted Answer

Both Lois and Patrick and Carol qualify for the child and dependent-care credit. Lois is allowed to claim up to $3,000 in child-care expenses for one child or dependent, and since she paid $2,600 in childcare costs, she is eligible for the credit. Patrick and Carol can also claim up to $6,000 in expenses (they have two dependents), and since they paid $5,000 in childcare costs, they are also eligible for the credit.

Which of the Following Individuals or Couples Qualify for the Child