Julie paid a day care to watch her 2 year old son.-she paid $5,900 to the day care and her AGI is $14,000 ($3,900 salary and $10,100 unearned income) what is the child and dependent care credit? EXHIBIT 8-10 Child and Dependent Care Credit PercentageThen the percentage is35%343332313029282726252423222120If AGI is over$015,00017,00019,00021,00023,00025,00027,00029,00031,00033,00035,00037,00039,00041,00043,000Source: $21.HBut not over$15,00017,00019,00021,00023,00025,00027,00029,00031,00033,00035,00037,00039,00041,00043,000No limitType here to search

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Julie paid a day care to watch her 2 year old son. -she paid $5,900 to the day care and her AGI is $14,000 ($3,900 salary and $10,100 unearned income) what is the child and dependent care 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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Question

Julie paid a day care to watch her 2 year old son. -she paid $5,900 to the day care and her AGI is $14,000 ($3,900 salary and $10,100 unearned income) what is the child and dependent care credit?

EXHIBIT 8-10 Child and Dependent Care Credit Percentage
Then the percentage is
35%
34
33
32
31
30
29
28
27
26
25
24
23
22
21
20
If AGI is over
$
0
15,000
17,000
19,000
21,000
23,000
25,000
27,000
29,000
31,000
33,000
35,000
37,000
39,000
41,000
43,000
Source: $21.
H
But not over
$15,000
17,000
19,000
21,000
23,000
25,000
27,000
29,000
31,000
33,000
35,000
37,000
39,000
41,000
43,000
No limit
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