Lennie and Margo spent $2,800 for child care for their 7-year-old son. Lennies earned income was $41,000,

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Lennie and Margo spent $2,800 for child care for their 7-year-old son. Lennie’s earned income was $41,000, Margo’s earned income was $24,800, and the AGI on their joint return was $71,200. Calculate their dependent care credit.

A. $0

B. $560

C. $980

D. $2,800

Related Book For answer-question

Federal Taxation 2016 Comprehensive

ISBN: 9780134104379

29th edition

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

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Posted Date: Dec 24, 2020 02:21 AM

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Lennie and Margo spent $2,800 for child care for their 7-year-old son. Lennies earned income was $41,000,

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Expert Answer:

For tax years through 2020 the Dependent Care Credit is 20 to 3... View the full answer

Federal Taxation 2016 Comprehensive

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