Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Julie 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

Julie 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 2022 in each of the following alternative scenarios? Use Exhibit 8-10 Required: Julie paid $2,080 to the day care center, and her AGI is $50,800 (all salary). Julie paid $5,200 to the day care center, and her AGI is $50,800 (all salary). Julie paid $4,400 to the day care center, and her AGI is $24,600 (all salary). Julie paid $2,400 to the day care center, and her AGI is $14,300 (all salary). Julie paid $4,400 to the day care center, and her AGI is $14,000 ($2,400 salary and $11,600 unearned income). EXHIBIT 8-10 Child and Dependent Care Credit Percentage If AGI is over But not over Then the percentage is $ 0 $15,000 35% 15,000 17,000 34 17,000 19,000 33 19,000 21,000 32 21,000 23,000 31 23,000 25,000 30 25,000 27,000 29 27,000 29,000 28 29,000 31,000 27 31,000 33,000 26 33,000 35,000 25 35,000 37,000 24 37,000 39,000 23 39,000 41,000 22 41,000 43,000 21 43,000 No limit 20

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Lead Auditor ISO 22000 2018 Food Safety Management Systems FSMS Course

Authors: Marius Hauta

1st Edition

B0BTSCBJ82, 979-8376159750

More Books

Students also viewed these Accounting questions