Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

71. Julie paid a day care center to watch her two-year-old son this year while she worked as a computer programmer for a local start-up

71. Julie paid a day care center to watch her two-year-old son this year while she worked as a computer programmer for a local start-up company. What amount of child and dependent care credit can Julie claim in 2022 in each of the following alternative scenarios?

a. Julie paid $2,000 to the day care center and her AGI is $50,000 (all salary).

b. Julie paid $10,000 to the day care center and her AGI is $50,000 (all salary).

c. Julie paid $4,000 to the day care center and her AGI is $25,000 (all salary).

d. Julie paid $2,000 to the day care center and her AGI is $14,000 (all salary).

e. Julie paid $4,000 to the day care center and her AGI is $14,000 ($2,000 salary and $12,000 unearned income).

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Principles And Practice Of Auditing

Authors: George Puttick, Sandra Van Esch

7th Edition

0702137723, 978-0702137723

More Books

Students also viewed these Accounting questions