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6- please advice Tim and Martha paid $6,600 in qualified employment-related expenses for their three...

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Accounting

6- please advice

Tim and Martha paid $6,600 in qualified employment-related expenses for their three young children, who live with them in their household. Martha received $1,800 of dependent care assistance from her employer, which was properly excluded from gross income. The couple had $39,800 of AGI earned equally. Use Child and Dependent Care Credit AGI schedule.

  1. What amount of child and dependent care tax credit can they claim on their Form 1040?
  2. How would your answer differ (if at all) if the couple had AGI of $37,300 that was earned entirely by Tim?
a. Child and dependent care tax credit $1,152
b. Child and dependent care tax credit $0

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