Homework Answers
Total AGI = 17000+ 21200 = 38200
The child and dependent care% is 23% for 2019.
The expenses incurred are with in the limit of $6000.
Allowable dependent care credit = 5200 * 23% = 1196
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13-38 Dependent Care Credit. V and J are married and file a joint return for the...
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1.
2.
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irs taxation
IUI V U J. 13-39 Dependent Care Credit. M and B are married, have a son three years old, and file a joint return for the current year. They incurred $500 a month for daycare center expenses. During the year, B earned $23,000 but M did not work outside the home. They do not have any other source of income nor do they claim any deductions for adjusted gross income. Determine the allowable dependent care credit for the...
Miriam and Arthur are married and incur $5,200 of qualifying expenses to care for their two children ages 2 and 5. Miriam's earned income is $35,000 and Arhur is a student for 10 months of the year. What is the amount of the qualifying expenses for purposes of computing the child and dependent care credit? Select one: O a. $3,000 O b. $5,200 O c. $6,000 O d. $5,000
1.
2.
Exercise 13-16 (LO. 4) Santiago and Amy are married and file a joint tax return. They have three dependent children, ages 12, 14, and 18. All parties are U.S. citizens. The couple's AGI is $140,000. Santiago and Amy's child tax credit for 2019 is $ x and dependent tax credit is $ x. Problem 13-31 (LO.4) Jason, a single parent, lives in an apartment with his three minor children, whom he supports. Jason earned $27,400 during 2019 and...
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