SI is $51,00 $125,300 00

CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter8: Taxation Of Individuals
Section: Chapter Questions
Problem 52P
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[The following information applies to the questions displayed below.]
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?
Use Exhibit 8-10
a. Julie paid $2,500 to the day care center and her AGI is $51,000 (all salary).
Child and dependent care credit S 1.040
b. Julle paid $6,250 to the day care center and her AGI is $51,000 (all salary).
Child and dependent care credit S 2,600 X
c. Julle paid $6,500 to the day care center and her AGI IS $125,300 (all salary).
Child and dependent care credit
d. Julie paid $4,500 to the day care center and her AGI is $400,300 (all salary).
Child and dependent care credit
e. Julle paid $6,500 to the day care center and her AGI is $14,000 ($4,500 salary and $9,500 unearned Income).
Child and dependent care credit
Transcribed Image Text:Required information [The following information applies to the questions displayed below.] 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? Use Exhibit 8-10 a. Julie paid $2,500 to the day care center and her AGI is $51,000 (all salary). Child and dependent care credit S 1.040 b. Julle paid $6,250 to the day care center and her AGI is $51,000 (all salary). Child and dependent care credit S 2,600 X c. Julle paid $6,500 to the day care center and her AGI IS $125,300 (all salary). Child and dependent care credit d. Julie paid $4,500 to the day care center and her AGI is $400,300 (all salary). Child and dependent care credit e. Julle paid $6,500 to the day care center and her AGI is $14,000 ($4,500 salary and $9,500 unearned Income). Child and dependent care credit
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