Determine the amount of the child-and dependent-care credit to which each of the

Question

Determine the amount of the child-and dependent-care credit to which each of the following taxpayers is entitled for 2015.

a. Luis and Beth are married and have a 4-year-old daughter. Their adjusted gross income is $48,300, and they pay $2,140 in qualified child-care expenses during the year. Beth earns $17,400, and Luis earns $30,900 in salary. $

b. Tina is a single parent with an 8-year-old son. Her adjusted gross income is $25,100, and she pays $3,240 in qualified child-care expenses. $

c. Elsa and Threvor are married and have three children, ages 6, 4, and 1. Their adjusted gross income is $77,200, and they pay $6,640 in qualified child-care expenses during the year. Elsa earns $46,100, and Threvor earns $31,100 in salary. $

d. Scott and Ana are married and have two children. Mirella earns $56,500, and Malcolm has a part-time job from which he earns $4,070 during the year. They pay $4,680 in qualified child-care expenses during the year. $

f. John is a single parent with a 12-year-old son. Because he does not arrive home from work until 7 p.m., Andrew has hired someone to take care of his son after school and cook him supper. Andrew's adjusted gross income is $59,100, and he pays $3,410 in child-care expenses.

Explanation / Answer

Solution.

A. In this case amount of the child-and dependent-care credit is $2,140 upto limitation of doller limit of $,300 for one qualified individual and $6,000 for two or more qualified individual.

B. In this case amount of the child-and dependent-care credit is $3,000 upto limitation of doller limit of $,300 for one qualified individual and $6,000 for two or more qualified individual.

C. In this case amount of the child-and dependent-care credit is $6,000 upto limitation of doller limit of $,300 for one qualified individual and $6,000 for two or more qualified individual.

D. In this case amount of the child-and dependent-care credit is $4,680 upto limitation of doller limit of $,300 for one qualified individual and $6,000 for two or more qualified individual.

F. In this case these child-care expenses. are not allowed as child care credit.

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