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Problem 13-38 (LO. 4) Paul and Karen Kent are married, and both are employed (Paul earns $44,000 and Karen earns $9,000 during 2021). Paul and
Problem 13-38 (LO. 4) Paul and Karen Kent are married, and both are employed (Paul earns $44,000 and Karen earns $9,000 during 2021). Paul and Karen have two dependent children, both under the age of 13 (Samuel and Joy). In order to work, Paul and Karen pay $3,800 ($1,900 for each child) to Sunnyside Day Care Center (422 Sycamore Road, Fort Worth, TX 76028; Employer Identification Number: 11-2345678) to care for their children while they are working. Click to view Applicable Rate of Credit based on Adjusted Gross Income. Assuming that Paul and Karen file a joint return, what, if any, is their tax credit for child and dependent care expenses? 760 X Feedback Check My Work A credit is allowed to taxpayers who incur employment-related expenses for child or dependent care. The credit for child and dependent care expenses is a specified percentage of expenses incurred to enable the taxpayer to work or to seek employment. Expenses on which the credit for child and dependent care expenses is based are subject to limitations
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