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Problem 7 - 1 4 ( Algorithmic ) Child and Dependent Care Credit ( LO 7 . 3 ) Raheem and Jean are married and

Problem 7-14(Algorithmic)
Child and Dependent Care Credit (LO 7.3)
Raheem and Jean are married and have 4-year-old twins. Jean is going to school full-time for 6 months of the year, and Raheem earns $45,200. The twins are in day care so Jean can go to school while Raheem is at work. The cost of day care is $7,600.
TABLE 6.1 CHILD AND DEPENDENT CARE CREDIT PERCENTAGES
Adjusted Gross Income Applicable Percentage
Over But Not Over
$0 $15,00035%
15,00017,00034%
17,00019,00033%
19,00021,00032%
21,00023,00031%
23,00025,00030%
25,00027,00029%
27,00029,00028%
29,00031,00027%
31,00033,00026%
33,00035,00025%
35,00037,00024%
37,00039,00023%
39,00041,00022%
41,00043,00021%
43,000 No limit 20%
What is their 2023 child and dependent care credit?
fill in the blank 1 of 1$
0

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