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Clarita is a single taxpayer that lives in the U.S. with two dependent children, ages 10 and 12. Clarita pays $3,000 in qualified child care
Clarita is a single taxpayer that lives in the U.S. with two dependent children, ages 10 and 12. Clarita pays $3,000 in qualified child care expenses during the year.
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If her adjusted gross income (all from wages) for the year is $70,000 and she takes the standard deduction, calculate Claritas child tax credit, earned income credit, and child and dependent care credit for 2021.
Clarita's taxable income is $fill in the blank 1 with a tax liability (pre-credit) of $fill in the blank 2. Her credits are computed below: | |
Child Tax Credit | $fill in the blank 3 |
Child and dependent care credit | $fill in the blank 4 |
Earned income credit | $fill in the blank 5 |
The total refundable credits equal $fill in the blank 6. |
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