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Julie paid a day care center to watch her two-year-old son while she worked as...

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Accounting

Julie paid a day care center to watch her two-year-old son while she worked as a computer programmer for a local start-up company.

What amount of child and dependent care credit can Julie claim in each of the following alternative scenarios?

a. Julie paid $2,000 to the day care center and her AGI is $50,000 (all salary).

EXHIBIT 8-10 Child and Dependent Care Credit Percentage

If AGI is over But not over Then the percentage is
$ 0 $125,000 50%
125,000 127,000 49
127,000 129,000 48
129,000 131,000 47
181,000 183,000 21
183,000 400,000 20
400,000 402,000 19
402,000 404,000 18
434,000 436,000 2
436,000 438,000 1
438,000 0

Source: Source: Internal Revenue Code. " 21. Expenses For Household And Dependent Care Services Necessary For Gainful Employment."

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