Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. julie paid a day care center to watch her two-year

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

90.2K

Verified Solution

Question

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 2021 in each of the following alternative scenarios?

  1. Julie paid $2,000 to the day care center and her AGI is $50,000 (all salary).
  2. Julie paid $10,000 to the day care center and her AGI is $50,000 (all salary).
  3. Julie paid $4,000 to the day care center and her AGI is $127,000 (all salary).
  4. Julie paid $2,000 to the day care center and her AGI is $402,000 (all salary).
  5. Julie paid $4,000 to the day care center and her AGI is $14,000 ($2,000 salary and $12,000 unearned income)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students