Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

photo is very clear thank you for your help Child Care Expenses: Martin and Amber are the parents to a 3-year old boy, and a

image text in transcribed

image text in transcribed

photo is very clear thank you for your help

Child Care Expenses: Martin and Amber are the parents to a 3-year old boy, and a 9-year old girl . The following are the amounts they incurred in childcare expenses during 2020. $9,600 Elephant Daycare (3 year old) After school care (9 year old) 3,000 Martin's earned income is $30,000 and Amber's earned income is $90,000. Martin was hospitalized for 14 weeks after a serious car accident. Part 3 Required: What is the amount that Martin can deduct in childcare expenses? What is the amount that Amber can deduct in childcare expenses? Do not use $ sign or "-"sign. Actual total Expenses Paid 12,600 Annual Limit 6,000 2/3 of Martin's earned Income 10,000 2/3 of Amber's earned income 60,000 Periodic payments Amber's deduction Martin's deduction Please answer all parts of the question Child Care Expenses: Martin and Amber are the parents to a 3-year old boy, and a 9-year old girl. The following are the amounts they incurred in childcare expenses during 2020. $9,600 Elephant Daycare (3 year old) After school care (9 year old) 3,000 Martin's earned income is $30,000 and Amber's earned income is $90,000. Martin was hospitalized for 14 weeks after a serious car accident. Part 3 Required: What is the amount that Martin can deduct in childcare expenses? What is the amount that Amber can deduct in childcare expenses? Do not use $ sign or ""sign, Actual total Expenses Paid 12,600 Annual Limit 6.000 2/3 of Martin's earned Income 10,000 2/3 of Amber's earned income 60.000 Periodic payments Amber's deduction Martin's deduction Please answer all parts of the question Child Care Expenses: Martin and Amber are the parents to a 3-year old boy, and a 9-year old girl . The following are the amounts they incurred in childcare expenses during 2020. $9,600 Elephant Daycare (3 year old) After school care (9 year old) 3,000 Martin's earned income is $30,000 and Amber's earned income is $90,000. Martin was hospitalized for 14 weeks after a serious car accident. Part 3 Required: What is the amount that Martin can deduct in childcare expenses? What is the amount that Amber can deduct in childcare expenses? Do not use $ sign or "-"sign. Actual total Expenses Paid 12,600 Annual Limit 6,000 2/3 of Martin's earned Income 10,000 2/3 of Amber's earned income 60,000 Periodic payments Amber's deduction Martin's deduction Please answer all parts of the question Child Care Expenses: Martin and Amber are the parents to a 3-year old boy, and a 9-year old girl. The following are the amounts they incurred in childcare expenses during 2020. $9,600 Elephant Daycare (3 year old) After school care (9 year old) 3,000 Martin's earned income is $30,000 and Amber's earned income is $90,000. Martin was hospitalized for 14 weeks after a serious car accident. Part 3 Required: What is the amount that Martin can deduct in childcare expenses? What is the amount that Amber can deduct in childcare expenses? Do not use $ sign or ""sign, Actual total Expenses Paid 12,600 Annual Limit 6.000 2/3 of Martin's earned Income 10,000 2/3 of Amber's earned income 60.000 Periodic payments Amber's deduction Martin's deduction Please answer all parts of the

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

Hotel And Restaurant Accounting

Authors: Cole Raymond

8th Edition

0866125531, 9780866125536

More Books

Students also viewed these Accounting questions

Question

When is the deadline?

Answered: 1 week ago

Question

OUTCOME 6 Explain and give examples of diversity management.

Answered: 1 week ago