LO.3 Jim and Mary Jean are married and have two dependent children under the age of 13.
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LO.3 Jim and Mary Jean are married and have two dependent children under the age of 13. Both parents are employed outside the home and, during 2018, earn salaries as follows: $16,000 (Jim) and $5,200 (Mary Jean). To care for their children while they work, they pay Eleanor (Jim's mother) $5,600. Eleanor does not qualify as a dependent of Jim and Mary Jean. Assuming that Jim and Mary Jean file a joint tax return, what, if any, is their credit for child and dependent care expenses?
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Related Book For
Essentials Of Taxation Individuals And Business Entities 2019
ISBN: 9780357233290
1st Edition
Authors: William A Raabe, James C Young
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