Question
Vicky is a single taxpayer with two children who qualify for the child and dependent care credit. She incurred $7,000 of qualifying child care expenses
Vicky is a single taxpayer with two children who qualify for the child and dependent care credit. She incurred $7,000 of qualifying child care expenses during the current year. She also received $4,700 in reimbursements from her employer from a qualified employee dependent care assistance program. What is the maximum child and dependent care credit available to Vicky if her AGI is $26,000? (Click the icon to view the credit rates for the child care credit across AGI levels.) Reference Under theses circumstances, Vicky's qualifying expenses amount to credit equals $ . Her credit rate is %. The allowable Applicable Adjusted Gross Income Percentage $ 0 to $15,000 35% $15,001 to $17,000 34% $17,001 to $19,000 33% $19,001 to $21,000 32% $21,001 to $23,000 31% $23,001 to $25,000 30% $25,001 to $27,000 29% $27,001 to $29,000 28% $29,001 to $31,000 27% $31,001 to $33,000 26% $33,001 to $35,000 25% Enter any number in the edit fields and then continue to the next question. $35,001 to $37,000 24%
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