Child and dependent care credit amount basics, Accounting Basics

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Child and dependent care credit amount basics

K and E are married and file a joint return. In 2011, E worked fulltime and earned $32,000, while K decided not to work during the year (i.e., K wanted to rest up for 2012 and catch up on the movies he was unable to watch over the years). Assume their 2011 AGI equaled $32,000. Assume they incurred $8,000 of child care expenses during 2011 for their TWO dependent children, P and A (ages 3 and 6, respectively). What is their child and dependent care CREDIT amount?

a. $9,000

b. $3,000

c. $1,560

d. $0

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Accounting Basics: Child and dependent care credit amount basics

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Accounting Basics: Child and dependent care credit amount basics

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Recent Questions Asked Accounting Basics

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Accounting Basics: Child and dependent care credit amount basics

Reference No:- TGS057315

Recent Questions Asked Accounting Basics

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