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Exhibit: ! Required Information [The following Information applies to the questions displayed below.] Julle paid a day care center to watch her two-year-old son while
Exhibit:
! Required Information [The following Information applies to the questions displayed below.] Julle paid a day care center to watch her two-year-old son 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 2021 In each of the following alternative scenarios? Use Exhibit 8-10 a. Julle paid $2,080 to the day care center and her AGI is $50,800 (all salary). Child and dependent care credit b. Julle paid $5,200 to the day care center and her AGI is $50,800 (all salary). Child and dependent care credit c. Julle paid $4,400 to the day care center and her AGI is $125,300 (all salary). Child and dependent care credit d. Julle paid $2,400 to the day care center and her AGI is $400,300 (all salary). Child and dependent care credit e. Julle paid $4,400 to the day care center and her AGI Is $14,000 ($2,400 salary and $11,600 unearned Income). Child and dependent care credit EXHIBIT 8-10 Child and Dependent Care Credit Percentage If AGI is over S 0 125,000 127,000 129,000 181,000 183,000 400,000 402,000 434,000 436,000 But not over $125,000 127,000 129,000 131,000 183,000 400,000 402,000 404,000 436,000 438,000 Then the percentage is 50% 49 48 47 21 20 19 18 2 1 438,000 0 Source: Source: Internal Revenue Code. " 21. Expenses For Household And Dependent Care Services Necessary For Gainful EmploymentStep by Step Solution
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