Paul and Karen are married, and both are employed (Paul earns $44,000 and Karen earns $9,000 during

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Paul and Karen are married, and both are employed (Paul earns $44,000 and Karen earns $9,000 during 2016). Paul and Karen have two dependent children, both under the age of 13. So that they can work, Paul and Karen pay $3,800 to various unrelated parties to care for their children while they are working. Assuming that Paul and Karen file a joint return, what, if any, is their tax credit for child and dependent care expenses?
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South Western Federal Taxation Individual Income Taxes 2017

ISBN: 9781305873988

40th Edition

Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young, Nellen

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