Calculate the credit for child and dependent care expenses


Dabney and Nancy are married, both gainfully employed, and have two children who are three and six years old. Dabney's salary is $35,000 while Nancy's salary is $40,000. During the year, they spend $7,000 for child care expenses that are required so both of them can work outside of the home. Calculate the credit for child and dependent care expenses.

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Accounting Basics: Calculate the credit for child and dependent care expenses
Reference No:- TGS084411

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