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 2022 in each of the following alternative scenarios? Use Exhibit 8-10Required:Julie paid $10,000 to the day care center, and her AGI is $50,000 (all salary). EXHIBIT 8-10 Child and Dependent Care Credit PercentageIf AGI is over$015,00017,00019,00021,00023,00025,00027,00029,00031,00033,00035,00037,00039,00041,00043,000But not over$15,00017,00019,00021,00023,00025,00027,00029,00031,00033,00035,00037,00039,00041,00043,000No limitThen the percentage is35%343332313029282726252423222120

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Business

Accounting

ulie paid a day care center to watch her two-year-old

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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Julie paid $10,000 to the day care center, and her AGI is $50,000 (all salary).

EXHIBIT 8-10 Child and Dependent Care Credit Percentage
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
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
Then the percentage is
35%
34
33
32
31
30
29
28
27
26
25
24
23
22
21
20

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