Clarita is a single taxpayer that lives in the U.S. with two dependent children, ages 10 and 12. Clarita pays $3,000 in qualified child care expenses during the year. If her adjusted gross income (all from wages) for the year is $21,000 and she takes the standard deduction. Assume that Clarita’s earned income is $70,000. Determine the net effect of the additional income on her total credits. (2021)

Clarita is a single taxpayer that lives in the U.S. with two dependent children, ages 10 and 12. Clarita pays $3,000 in qualified child care expenses during the year. If her adjusted gross income (all from wages) for the year is $21,000 and she takes the standard deduction. Assume that Clarita’s earned income is $70,000. Determine the net effect of the additional income on her total credits. (2021)

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter3: Computing The Tax

Section: Chapter Questions

Problem 17CE

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