80.2K

Verified Solution

Link Copied!

2022 Child and Dependent Care Credit Rates Samuel and Annamaria are married, file a joint return, and have three qualifying children. In 2022 , they earn wages of $28,900 and no other income. Round your intermediate computations and final answer to the nearest dollar. Click here to access the and Phaseout Percentages Table. The earned income credit is $ Earned Income Credit and Phaseout Percentages Exercise 12-17 (Algorithmic) (LO. 2) Compute the 2022 AMT exemption for the following taxpayers. If an amount is zero, enter " 0 ". Click here to access the a. Bristol, who is single, has AMTI of $751,400. Her AMT exemption is $ X. b. Marley and Naila are married and file a joint tax return. Their AMTI is $1,104,800. Their AMT exemption is $ \begin{tabular}{lrrr} \hline & & \multicolumn{2}{c}{ Phaseout } \\ \cline { 3 - 4 } Status & Exemption & Begins at & Ends at \\ \hline Married, joint & $118,100 & $1,079,800 & $1,552,200 \\ Single or head of household & 75,900 & 539,900 & 843,500 \\ Married, separate & 59,050 & 539,900 & 776,100 \\ \hline \end{tabular} Exercise 12-22 (Algorithmic) (LO. 2, 3, 5) Yanni, who is single, provides you with the following information for 2022: Click here to access the exemption table. If required, round your answers to the nearest dollar. Compute the following: In 2022, Ivanna, who has three children under age 13, worked full-time while her spouse, Sergio, was attending college for nine months during the year. Ivanna earned $59,700 and incurred $8,825 of child care expenses. Click here to access the percentage chart to us for this problem. Determine Ivanna and Sergio's child and dependent care credit

Answer & Explanation Solved by verified expert

See Answer