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Child and dependent care credit $

Child and dependent care credit $

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Debra has two children under the age of 13 and she works full-time. Debra pays $7.600 in qualified dependent expenses. Her wages are $38,000. Debra's employer has a qualified dependent care assistance program and reimbursed Debra $5,300. The payment reduces Debra's taxable wages to $32.700. How much is Debra's child and dependent care credit? Child and dependent care credit $
Transcribed Image Text:Debra has two children under the age of 13 and she works full-time. Debra pays $7.600 in qualified dependent expenses. Her wages are $38,000. Debra's employer has a qualified dependent care assistance program and reimbursed Debra $5,300. The payment reduces Debra's taxable wages to $32.700. How much is Debra's child and dependent care credit? Child and dependent care credit $
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