please answer all three parts within 30 minutes. its urgent.
Chapter2: Gross Income And Exclusions
Section: Chapter Questions
Problem 9MCQ
Related questions
Question
please answer all three parts within 30 minutes. its urgent.
![Julie paid a day care center to watch her two-year-old son while she worked as a computer programmer for a local start-
up company.
What amount of child and dependent care credit can Julie claim in 2021 in each of the following alternative scenarios? Use
Exhibit 8-10
c. Julie paid $4,400 to the day care center and her AGI is $125,300 (all salary).
Child and dependent care credit
Julie paid a day care center to watch her two-year-old son while she worked as a computer programmer for a local start-
up company.
What amount of child and dependent care credit can Julie claim in 2021 in each of the following alternative scenarios? Use
Exhibit 8-10
d. Julie paid $2,400 to the day care center and her AGI is $400,300 (all salary).
Child and dependent care credit
Julie paid a day care center to watch her two-year-old son while she worked as a computer programmer for a local start-
up company.
What amount of child and dependent care credit can Julie claim in 2021 in each of the following alternative scenarios? Use
Exhibit 8-10
e. Julie paid $4,400 to the day care center and her AGI is $14,000 ($2,400 salary and $11,600 unearned income).
Child and dependent care credit
EXHIBIT 8-10 Child and Dependent Care Credit Percentage
If AGI is over
But not over
Then the percentage is
$ 0
$125,000
50%
125,000
127,000
49
127,000
129,000
48
129,000
131,000
47
181,000
183,000
21
183,000
400,000
20
400,000
402,000
19
402,000
404,000
18
434 ,000
436,000
2
436,000
438,000
1
438,000
Source: Source: Internal Revenue Code. "§ 21. Expenses For Household And Dependent Care Services Necessary For Gainful Employment."](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F49ed4b1e-e841-48ef-a9b1-561ea1f259d0%2Fb2477fd9-7a08-4738-8ee9-b41368196761%2F4ngihsn_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Julie paid a day care center to watch her two-year-old son while she worked as a computer programmer for a local start-
up company.
What amount of child and dependent care credit can Julie claim in 2021 in each of the following alternative scenarios? Use
Exhibit 8-10
c. Julie paid $4,400 to the day care center and her AGI is $125,300 (all salary).
Child and dependent care credit
Julie paid a day care center to watch her two-year-old son while she worked as a computer programmer for a local start-
up company.
What amount of child and dependent care credit can Julie claim in 2021 in each of the following alternative scenarios? Use
Exhibit 8-10
d. Julie paid $2,400 to the day care center and her AGI is $400,300 (all salary).
Child and dependent care credit
Julie paid a day care center to watch her two-year-old son while she worked as a computer programmer for a local start-
up company.
What amount of child and dependent care credit can Julie claim in 2021 in each of the following alternative scenarios? Use
Exhibit 8-10
e. Julie paid $4,400 to the day care center and her AGI is $14,000 ($2,400 salary and $11,600 unearned income).
Child and dependent care credit
EXHIBIT 8-10 Child and Dependent Care Credit Percentage
If AGI is over
But not over
Then the percentage is
$ 0
$125,000
50%
125,000
127,000
49
127,000
129,000
48
129,000
131,000
47
181,000
183,000
21
183,000
400,000
20
400,000
402,000
19
402,000
404,000
18
434 ,000
436,000
2
436,000
438,000
1
438,000
Source: Source: Internal Revenue Code. "§ 21. Expenses For Household And Dependent Care Services Necessary For Gainful Employment."
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you