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Problem 1 - put all of your final answers in the yellow boxes below, and show any additional work in the green identified area Child
Problem put all of your final answers in the yellow boxes below, and show any additional work in the green identified area Child care deduction calculation Mrs Byrd: Lesser of A or B A: Least of things Total eligible child care costs paid Annual maximum child care expense amount Earned income A: Least of or B: Periodic amount number of weeks lower income spouse was hospitalized Mrs Byrds child care deduction: lesser of A or B: Child care deduction calculation Mr Byrd: Deduction Least of things Total eligible child care costs paid Annual maximum child care expense amount Earned income Least of or Less: Mrs Byrds deduction Mr Byrddeduction: Show any additional work notes here: Problem : Chapter : Child Care Deduction Instructions: Both Mr Byrd and Mrs Byrd are employed. During Mr Byrd had opened a restaurant and had business income of $ Mr Byrd also had net employment income of $ after deducting $ of employment deductions. He also had $ of interest income. Ms Byrd had gross employment income of $ which included taxable benefits of $ She also had $ of dividend income. Since they both had to work long hours, they had to pay for care of their children. They have four children: Clarence years old and eligible for the disability tax credit Ida years old Gary years old and Pearson years old Payments for childcare during the year amounted to $ per week for weeks of the year. Additionally, they sent Clarence, Ida, and Gary to overnight summer camp for weeks each, and paid $ total for this camp. Also during the current year, there was a period of weeks during which Mr Byrd was hospitalized due to injuries suffered during a hockey game. Required: Determine the maximum amount that can be deducted by Mr and Mrs Byrd for the year ending December for child care expenses. Final answers to each step should be filled in the yellow boxes on the PResponse" tab. Show any extra work or notes in the green space provided on the PResponse" tab. These things below are to be calculated with the help of above information: Child care deduction calculation Mrs Byrd: Lesser of A or B A: Least of things Total eligible child care costs paid Annual maximum child care expense amount Earned income A: Least of or B: Periodic amount number of weeks lower income spouse was hospitalized Mrs Byrds child care deduction: lesser of A or B: Child care deduction calculation Mr Byrd: Deduction Least of things Total eligible child care costs paid Annual maximum child care expense amount Earned income Least of or Less: Mrs Byrds deduction Mr Byrd deduction:
Problem put all of your final answers in the yellow boxes below, and show any additional work in the green identified area
Child care deduction calculation Mrs Byrd:
Lesser of A or B
A: Least of things
Total eligible child care costs paid
Annual maximum child care expense amount
Earned income
A: Least of or
B: Periodic amount number of weeks lower income spouse was hospitalized
Mrs Byrds child care deduction: lesser of A or B:
Child care deduction calculation Mr Byrd:
Deduction Least of things
Total eligible child care costs paid
Annual maximum child care expense amount
Earned income
Least of or
Less: Mrs Byrds deduction
Mr Byrddeduction:
Show any additional work notes here: Problem : Chapter : Child Care Deduction
Instructions:
Both Mr Byrd and Mrs Byrd are employed. During Mr Byrd had opened a restaurant and had business income
of $ Mr Byrd also had net employment income of $ after deducting $ of employment deductions. He
also had $ of interest income. Ms Byrd had gross employment income of $ which included taxable
benefits of $ She also had $ of dividend income. Since they both had to work long hours, they had to pay
for care of their children.
They have four children: Clarence years old and eligible for the disability tax credit Ida years old Gary years
old and Pearson years old
Payments for childcare during the year amounted to $ per week for weeks of the year. Additionally, they sent
Clarence, Ida, and Gary to overnight summer camp for weeks each, and paid $ total for this camp.
Also during the current year, there was a period of weeks during which Mr Byrd was hospitalized due to injuries
suffered during a hockey game.
Required: Determine the maximum amount that can be deducted by Mr and Mrs Byrd for the year ending December
for child care expenses. Final answers to each step should be filled in the yellow boxes on the PResponse"
tab. Show any extra work or notes in the green space provided on the PResponse" tab.
These things below are to be calculated with the help of above information:
Child care deduction calculation Mrs Byrd:
Lesser of A or B
A: Least of things
Total eligible child care costs paid
Annual maximum child care expense amount
Earned income
A: Least of or
B: Periodic amount number of weeks lower income spouse was hospitalized
Mrs Byrds child care deduction: lesser of A or B:
Child care deduction calculation Mr Byrd:
Deduction Least of things
Total eligible child care costs paid
Annual maximum child care expense amount
Earned income
Least of or
Less: Mrs Byrds deduction
Mr Byrd deduction:
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