Exercise 12-15 (Algorithmic) (LO. 4) In 2021, Ivanna, who has three children under age 13, worked full-time while her spouse, Sergio, was attending college for nine months during the year, Ivanna eamed $51,900 and incurred $9,675 of child care expenses, Click here to access the percentage chart to us for this problem. Determine amount of Ivanna and Sergio's child and dependent care credit. 900 X Feedback Check My Wor The credit for child and dependent care expenses mitigates the inequity felt by working taxpayers who must pay for child care services to work outside the home. This credit is a specified percentage of expenses incurred to enable the taxpayer to work or to seek employment Expenses on which the credit for child and dependent care expenses is based are subject to limitations Previous Next dod 1 m Check My Work uses remaining it 12.2 2021 Child and Dependent Care Credit Computations Adjusted Gross Income Credit Adjusted Gross Income Credit Over But Not Over Rate Over But Not Over Rate $ 0 $125,000 50% $155,000 $157,000 3496 125,000 127,000 4996 157,000 159,000 3396 127,000 129,000 4896 159,000 161,000 3296 129,000 131,000 4796 161,000 163,000 3196 131,000 133,000 46% 163,000 165,000 30% 133,000 135,000 4596 165,000 167,000 2996 135,000 137.000 4496 167,000 169,000 2896 137.000 139,000 439 169,000 171,000 2796 139,000 141,000 4296 171.000 173,000 2696 141,000 143,000 4196 173,000 175,000 2596 143,000 145,000 4096 175,000 177,000 2496 145,000 147,000 3996 177,000 179,000 2396 147,000 149,000 3896 179,000 181,000 2296 149,000 151,000 3796 181,000 183,000 2196 151,000 153,000 3696 183,000 400,000 20% 153,000 155,000 3596 400,000