Question
Clarita is a single taxpayer with two dependent children, ages 10 and 12. Clarita pays $3,000 ($1,500 for each child) in qualified child care expenses
Clarita is a single taxpayer with two dependent children, ages 10 and 12. Clarita pays $3,000 ($1,500 for each child) in qualified child care expenses during the year. Her adjusted gross income and earned income (all from wages) for the year is $20,200 and she takes the standard deduction.
If her adjusted gross income (all from wages) for the year is $20,200 and she takes the standard deduction, calculate Claritas earned income credit and child and dependent care credit for 2020.
Complete Form 2441, Child and Dependent Care Expenses and determine Clarita's child care credit.
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10 | Tax liability limit. Enter the amount from the Credit | ||||||
Limit Worksheet in the instructions . . . |
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