SI is $51,00 $125,300 00
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
a. Julie paid $2,500 to the day care center and her AGI is $51,000 (all salary).
Child and dependent care credit S 1.040
b. Julle paid $6,250 to the day care center and her AGI is $51,000 (all salary).
Child and dependent care credit S 2,600 X
c. Julle paid $6,500 to the day care center and her AGI IS $125,300 (all salary).
Child and dependent care credit
d. Julie paid $4,500 to the day care center and her AGI is $400,300 (all salary).
Child and dependent care credit
e. Julle paid $6,500 to the day care center and her AGI is $14,000 ($4,500 salary and $9,500 unearned Income).
Child and dependent care credit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F450cfc39-a0b3-41ad-b01f-57c67b514b9d%2Fe3e4ad34-ee93-42c2-8fb0-8fefe3b24c2c%2Fj73k5v_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
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
a. Julie paid $2,500 to the day care center and her AGI is $51,000 (all salary).
Child and dependent care credit S 1.040
b. Julle paid $6,250 to the day care center and her AGI is $51,000 (all salary).
Child and dependent care credit S 2,600 X
c. Julle paid $6,500 to the day care center and her AGI IS $125,300 (all salary).
Child and dependent care credit
d. Julie paid $4,500 to the day care center and her AGI is $400,300 (all salary).
Child and dependent care credit
e. Julle paid $6,500 to the day care center and her AGI is $14,000 ($4,500 salary and $9,500 unearned Income).
Child and dependent care credit
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