Question
Mr. and Mrs. Action are married and have five dependent children: Joel, Kate, Amy, and Eric who are ages 15, 12, 8, and 6, respectively.
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Mr. and Mrs. Action are married and have five dependent children: Joel, Kate, Amy, and Eric who are ages 15, 12, 8, and 6, respectively. Mr. Action had earned income of $88,000 and Mrs. Action has earned income of $32,000. Their AGI is $122,000. They paid KinderCare Daycare Center $12,000 to care for the three younger children after school. How much can the Actions claim as a dependent care credit in 2022?
a. $600
b. $1,200
c. $2,100
d. $3,000
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Intermediate accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
7th edition
978-0077614041, 9780077446475, 77614046, 007744647X, 77647092, 978-0077647094
