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1. Calculate the dependent care credit given the following information: H & W are married and file a joint return. H earned wages of $40,000

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1. Calculate the dependent care credit given the following information: H & W are married and file a joint return. H earned wages of $40,000 and Wearned $45,000 in 2020. They have two children ages 5 & 6 and paid a caregiver $5,000 to watch the children while they both worked. Calculate the dependent care credit, if any, that H & W may claim for 2020 2. W and M have three children ages 18, 13, and 10. Wand M file jointly and have AGI of $100,000. Calculate the child tax credit, if any, that Wand M may claim for 2020. 3. The child tax credit is a nonrefundable credit. True False 4. The American Opportunity Credit allows qualified taxpayers to claim a maximum credit of $2,500 per return. True False

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