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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.
TABLE 6.1CHILD AND DEPENDENT CARE CREDIT PERCENTAGES Adjusted Gross Income Applicable PercentageOver But Not Over $0$15,000 35%15,00017,000 34%17,00019,000 33%19,00021,000 32%21,00023,000 31%23,00025,000 30%25,00027,000 29%27,00029,000 28%29,00031,000 27%31,00033,000 26%33,00035,000 25%35,00037,000 24%37,00039,000 23%39,00041,000 22%41,00043,000 21%43,000No limit 20%
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 2022.
Click here to view the Earned Income Credit table.
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Clarita's taxable income is $_____ in the blank 1 with a tax liability (pre-credit) of $_____. Her credits are computed below:Child Tax Credit$_____Child and dependent care credit$_____Earned income credit$_____The total refundable credits equal $_____
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