Clarita is a single taxpayer with two dependent children, ages 10 and 12. Clarita pays $3,000 in qualified child care expenses during the year. If her adjusted gross income (all from wages) for the year is $20,200 and she takes the standard deduction, calculate Clarita's earned income credit and child and dependent care credit for 2020. A. child and dependent care credit? B. Earned income credit?

Clarita is a single taxpayer with two dependent children, ages 10 and 12. Clarita pays $3,000 in qualified child care expenses during the year. If her adjusted gross income (all from wages) for the year is $20,200 and she takes the standard deduction, calculate Clarita's earned income credit and child and dependent care credit for 2020. A. child and dependent care credit? B. Earned income credit?

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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