Question
Sam and Esterina are married, file a joint return, and have two children, ages 9 and 12. Their combined AGI is $67,000. Sam's earned income
Sam and Esterina are married, file a joint return, and have two children, ages 9 and 12. Their combined AGI is $67,000. Sam's earned income is $43,000; Esterina's is $27,000. They incur $6,900 of child care expenses to enable them to be employed during the current year. Calculate their child and dependent care credit.
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Step: 1
To calculate the child and dependent care credit for Sam and Esterina we first need to determine their eligible child care expenses and then calculate the credit based on their income 1 Determine the ...Get Instant Access to Expert-Tailored Solutions
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Federal Taxation 2020 Comprehensive
Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse
33rd Edition
0135196272, 978-0135196274
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