Problem 10-31 (LO. 3) Jim and Mary Jean are married and...
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Problem 10-31 (LO. 3) Jim and Mary Jean are married and have two dependent children under the age of 13 . Both parents are employed outside the home and, during 2022, earn salaries as follows: $130,000 (Jim) and $5,200 (Mary Jean). To care for their children while they work, they pay Eleanor (Jim's mother) $5,600. Eleanor does not qualify as a dependent of Jim and Mary Jean. Click to view Applicable Rate of Credit based on Adjusted Gross Income. Assuming that Jim and Mary Jean file a joint tax return, what, if any, is their credit for child and dependent care expenses? 3 more Check My Work uses remaining
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