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Fern and Fred Franklin file married joint. They have a 4-year-old daughter, Flower. They paid $10,000, to Kiddie Playschool to watch Flower while they

 

Fern and Fred Franklin file married joint. They have a 4-year-old daughter, Flower. They paid $10,000, to Kiddie Playschool to watch Flower while they worked. The Franklin's did not receive advance payments of the Child Tax Credit. Use the 20% rate to calculate the child and dependent care credit. 2021 Information: Salary Fern $70,000 Salary Fred $80,000 Long-term capital gain income $10,000 Sole proprietorship income $20,000 Contribution to Health Savings Account $2,000 State taxes paid $15,000 Medical expenses$10,000 Mortgage interest $20,000, the $400,000 mortgage was signed in 2014. Contribution to the American Heart Association $5,000 Tax Payments: Withholdings $10,000 Estimated- Quarterly Payments $5,000 Overpayment from 2020, $1,000

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