Question
1. Jack paid $15,000 in daycare expenses for his five-year-old daughter so he could work. His AGI for the year was $47,500 (all earned income).
1. Jack paid $15,000 in daycare expenses for his five-year-old daughter so he could work. His AGI for the year was $47,500 (all earned income). What is the amount of his child and dependent care credit?
2. Julien and Sarah are married, file a joint return, and have two children, Kaya and Christopher. Kaya just finished her third year at college and Christopher just finished his first year of graduate school (fifth year of college). Tuition and books for the past year were $2,800 for Kaya and $6,000 for Christopher. How much can Julien and Sarah claim in educational credits if their joint AGI was $122,000 for 2015?
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Income Tax Fundamentals 2015
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
33rd Edition
9781305177772, 128543952X, 1305177770, 978-1285439525
