What is the amount of dependent care credit for a couple with two children where they spend $5,000 for dependent care and the husband earns $40,000 for the year and the wife earns $4,500?

Question

Quizplus · Accepted Answer

The expenses for dependent care are limited to $4,500, the income of the lower-earning spouse, and the credit percentage for $44,500 of adjusted gross income is 20%.

What Is the Amount of Dependent Care Credit for a Couple