What is the maximum amount of qualified expenses that a taxpayer with one qualifying child can claim for the basis of the Form 2441 credit for dependent care for TY2023? a. $6,000 b. $5,000 c. $3,000 d. There is no limit to the expenses
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What is the maximum amount of qualified expenses that a taxpayer with one qualifying child can claim for the basis of the Form 2441 credit for dependent care for TY2023?
a. $6,000
b. $5,000
c. $3,000
d. There is no limit to the expenses
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- The gross income test for a dependent who is a qualifying relative mandates that the potential qualifying relative cannot have gross income over a certain amount. What is the gross income limit for Tax Year 2023? $0 $4,400 $4,700 $13,850For purposes of the Child and Dependent Care Credit, all the following are qualified expenses except for which one? a. نن فم b. d. A $700 adult day care expense for a disabled spouse while the taxpayer workers. A $450 childcare expense while the taxpayer obtains emergency medical care. A $500 payment to a grandparent for childcare while the taxpayer is employed. A $350 payment to a day care center while the taxpayer is looking for employment.Required: A married couple received $9,200 of social security benefits. a. Calculate the taxable amount of those benefits if the couple's provisional income is $20,500. b. Calculate the taxable amount of those benefits if the couple's provisional income is $38,000. c. Calculate the taxable amount of those benefits if the couple's provisional income is $56,000. Taxable amount of benefits a. b. C.
- Greg has self-employment income in 2021 of $96,000. The self-employment tax is: (round to the nearest dollar)Which of the following can be adjustment(s) to gross income on the 1040 form? Multiple correct question Alimony paid Child care deductions Health insurance premiums paid by self-employed individuals Traditional IRA contributions Moving expensesA qualifying individual for the purposes of the child and dependent care expenses credit includes all of the following except: Multiple Choice A dependent under the age of 13. An adult child who is incapable of caring for himself/herself, who lived with the taxpayer for at least half of the year. A dependent child, age of 17 who attends school full time. A spouse who is incapable of caring for himself/herself, who lived with the taxpayer for at least half of the year.
- Which of the following is not a requirement to receive the premium tax credit for health care? Health care through the employer is not available Health insurance is purchased through the state or federal exchange Income must be no greater than 200 percent of the federal poverty line The taxpayer cannot be claimed as a dependentWhich of the following is a deduction for adjusted gross income in 2019? Personal casualty losses Medical expenses Student loan interest Charitable contributions None of the aboveAn individual who is eligible to be claimed as a dependent on another's return and has $1,000 of earned income may claim a standard deduction of $1,400. Group startsTrue or FalseTrue, unselectedFalse, unselected
- A married couple received $11,000 of social security benefits. a. Calculate the taxable amount of those benefits if the couple's provisional income is $24,500. b. Calculate the taxable amount of those benefits if the couple's provisional income is $42,500. c. Calculate the taxable amount of those benefits if the couple's provisional income is $65,000. a. b. " Taxable amount of benefits $ 0Question 2: If an individual whose filing status is single earns $256,000 during the year, what portion of the earnings are subject to Additional Medicare Tax, and what is the total (standard and Additional) Medicare Tax rate that will be applied to these earnings? Answer: A. O $6.000 and0.9% В. O $6.000 and 2.35% C. O 556,000 and 0.9% D. O 556.000 and 2.35%For tax year 2023Cindy has work-related dependent care expenses of $3,200 for the care of one qualifying person, and work-related dependent care expenses of $3,800 for another qualifying person. What amount of these work-related expenses may Cindy use when figuring the Child and Dependent Care Credit? A) $2,800 B) $3.000 C) $7,000 D) $6,000
