Mr. And Mrs. Claus have two children. The ages of the children are 1 and 10....

Transcribed Image Text:

Mr. And Mrs. Claus have two children. The ages of the children are 1 and 10. All the children are in good mental and physical health. During the current year, Mr. Claus has net employment income of $60000, after the deduction of employment expenses of $6,000. Mrs. Claus has net business income during this period of $80,000, after deducting business expenses of $15,000. The child care costs for the current year, all properly documented for tax purposes, are $30000. Determine the maximum deduction for child care costs that Mr. Claus should claim. Round to the nearest dollar. Do NOT write commas, dollar signs, or decimals in your response. Mr. And Mrs. Claus have two children. The ages of the children are 1 and 10. All the children are in good mental and physical health. During the current year, Mr. Claus has net employment income of $60000, after the deduction of employment expenses of $6,000. Mrs. Claus has net business income during this period of $80,000, after deducting business expenses of $15,000. The child care costs for the current year, all properly documented for tax purposes, are $30000. Determine the maximum deduction for child care costs that Mr. Claus should claim. Round to the nearest dollar. Do NOT write commas, dollar signs, or decimals in your response.

Answer rating: 100% (QA)

Solution Maximum deduction for child care costs that Mr Cl... View the full answer