Kim paid her nanny $20,000 during 2021 to watch her three children, Finn (3), Rachel (5) and Caitlyn (7) If Kim's AGI is $126,000, what amount of the dependent care creditwould she be able to claim?O a. $7,840O b. $9,800c. $16,000O d. $20,000

Dependent care credit: It implies to a tax credit that allows and assist a taxpayer in paying for…

Answered: Kim paid her nanny $20,000 during 2021…

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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Kim paid her nanny $20,000 during 2021 to watch her three children, Finn (3). Rachel (5) and Caltlyn (7) If Kim's AGI is $126,000, what amount of the dependent care credit would she be able to claim? O a $7,840 O b. $9,800 c. $16,000 O d. $20,000