Adrienne is a single mother with a six-year-old daughter who lived with her during the entire year. Adrienne paid $2,200 in child care expenses so that she would be able to work. Of this amount, $600 was paid to Adrienne's mother, whom Adrienne cannot claim as a dependent. Adrienne had net earnings of $1,400 from her jewelry business. In addition, she received child support payments of $20,400 from her ex-husband. Use Child and Dependent Care Credit AGI schedule. Required: What amount, if any, of child and dependent care credit can Adrienne claim? Child and dependent care tax credit
Adrienne is a single mother with a six-year-old daughter who lived with her during the entire year. Adrienne paid $2,200 in child care expenses so that she would be able to work. Of this amount, $600 was paid to Adrienne's mother, whom Adrienne cannot claim as a dependent. Adrienne had net earnings of $1,400 from her jewelry business. In addition, she received child support payments of $20,400 from her ex-husband. Use Child and Dependent Care Credit AGI schedule. Required: What amount, if any, of child and dependent care credit can Adrienne claim? Child and dependent care tax credit
Chapter3: Tax Formula And Tax Determination; An Overview Of property Transactions
Section: Chapter Questions
Problem 2BCRQ
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