Question
For each of the independent situations, determine the amount of the child and dependent care tax credit. (Assume that both taxpayers are employed and the
For each of the independent situations, determine the amount of the child and dependent care tax credit. (Assume that both taxpayers are employed and the year 2016). LOADING... (Click the icon to view the credit rates for the child care credit across AGI levels.) a. BradyBrady and BaileyBailey are married and file a joint return, with earned income of $44,000 and 18,000, respectively. Their combined AGI is $59,000. They have two children, ages 10 and 12, and employ a live-in nanny at an annual cost of $13,000. Refer to the information provided and compute the child and dependent care tax credit. Qualifying expenses Child and dependent eligible x Applicable percentage = care tax credit x % =
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