What is the amount of the child and dependent care credit they should report on their tax return for 2020 (assume no tax liability limitation)? a.$675 b.$459 c.$729 d.$270 e.None of these choices are correct.
What is the amount of the child and dependent care credit they should report on their tax return for 2020 (assume no tax liability limitation)? a.$675 b.$459 c.$729 d.$270 e.None of these choices are correct.
Chapter1: The Individual Income Tax Return
Section: Chapter Questions
Problem 4P: In 2019, Lou has a salary of $53,300 from her job. She also has interest income of $1,600 and...
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Robert and Mary file a joint tax return for 2020 with adjusted gross income of $34,000. Robert and Mary earned income of $20,000 and $14,000, respectively, during 2020. In order for Mary to be gainfully employed, they pay the following child care expenses for their 4-year-old son, John:
What is the amount of the child and dependent care credit they should report on their tax return for 2020 (assume no tax liability limitation)?
Union Day Care Center for John | $1,700 |
Wilma (Robert's mother) for babysitting John | $1,000 |
What is the amount of the child and dependent care credit they should report on their tax return for 2020 (assume no tax liability limitation)?
a.$675
b.$459
c.$729
d.$270
e.None of these choices are correct.
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