Question
Trudy is Jocelyn's friend. Trudy looks after Jocelyn's four-year-old son during the day so Jocelyn can go to work. During the year, Jocelyn paid Trudy
Trudy is Jocelyn's friend. Trudy looks after Jocelyn's four-year-old son during the day so Jocelyn can go to work. During the year, Jocelyn paid Trudy $4,200 to care for her son. What is the amount of Jocelyn's child and dependent care credit if her AGI for the year was $32,000? (Exhibit 8-9) Multiple Choice O $780 $1,092 $3,000 EXHIBIT 8-9 Child and Dependent Care Credit Percentage If AGI is over But not over Then the percentage is $ 0 $15,000 35% 15,000 17,000 34 17,000 19,000 33 19,000 21,000 32 21,000 23,000 31 23,000 25,000 30 25,000 27,000 29 27,000 29,000 28 4 29,000 31,000 27 31,000 33,000 26 33,000 35,000 25 35,000 37,000 24 37,000 39,000 23 39,000 41,000 22 21 41,000 43,000 20 43,000 No limit Source: Source: Internal Revenue Code. " 21. Expenses For Household And Dependent Care Services Necessary For Gainful Employment
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