Avery, an unmarried taxpayer, had the following income items: $ 43,600 3,500 Salary Net income from a rental house Avery has a 4-year-old child who attends a child care center. Assume the taxable year is 2023. Use Individual Tax Rate Schedules and Standard Deduction Table. Required: Compute Avery's child tax credit and dependent care credit. a. Assume Avery paid $1,340 to the child care facility. b. Assume Avery paid $4,830 to the child care facility. Complete this question by entering your answers in the tabs below. Required A Required B Compute Avery's child tax credit and dependent care credit. Assume Avery paid $1,340 to the child care facility. Note: Round your intermediate computations and final answers to the nearest whole dollar amount. Amount Child Credit Dependent Credit $ $ 2,000 600
Avery, an unmarried taxpayer, had the following income items: $ 43,600 3,500 Salary Net income from a rental house Avery has a 4-year-old child who attends a child care center. Assume the taxable year is 2023. Use Individual Tax Rate Schedules and Standard Deduction Table. Required: Compute Avery's child tax credit and dependent care credit. a. Assume Avery paid $1,340 to the child care facility. b. Assume Avery paid $4,830 to the child care facility. Complete this question by entering your answers in the tabs below. Required A Required B Compute Avery's child tax credit and dependent care credit. Assume Avery paid $1,340 to the child care facility. Note: Round your intermediate computations and final answers to the nearest whole dollar amount. Amount Child Credit Dependent Credit $ $ 2,000 600
Chapter10: Deductions And Losses: Certain Itemized Deductions
Section: Chapter Questions
Problem 2BCRQ
Related questions
Question
Transcribed Image Text:Avery, an unmarried taxpayer, had the following income items:
$ 43,600
3,500
Salary
Net income from a rental house
Avery has a 4-year-old child who attends a child care center. Assume the taxable year is 2023. Use Individual Tax Rate Schedules and
Standard Deduction Table.
Required:
Compute Avery's child tax credit and dependent care credit.
a. Assume Avery paid $1,340 to the child care facility.
b. Assume Avery paid $4,830 to the child care facility.
Complete this question by entering your answers in the tabs below.
Required A Required B
Compute Avery's child tax credit and dependent care credit. Assume Avery paid $1,340 to the child care facility.
Note: Round your intermediate computations and final answers to the nearest whole dollar amount.
Amount
Child Credit
Dependent Credit
$
$
2,000
600
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