Marty and Jean are married and have 4-year-old twins. Jean is going to school full-time for 11 months of the year, and Marty earns $64,300. The twins are in day care so Jean can go to school while...


Marty and Jean are married and have 4-year-old twins. Jean is going to school full-time for 11 months of the year, and Marty earns $64,300. The twins are in day care so Jean can go to school while Marty is at work. The cost<br>of day care is $10,100.<br>TABLE 6.1<br>CHILD AND DEPENDENT CARE CREDIT PERCENTAGES<br>Adjusted Gross Income<br>Applicable Percentage<br>Over<br>But Not Over<br>$0<br>$15,000<br>35%<br>15,000<br>17,000<br>34%<br>17,000<br>19,000<br>33%<br>19,000<br>21,000<br>32%<br>21,000<br>23,000<br>31%<br>23,000<br>25,000<br>30%<br>25,000<br>27,000<br>29%<br>27,000<br>29,000<br>28%<br>29,000<br>31,000<br>27%<br>31,000<br>33,000<br>26%<br>33,000<br>35,000<br>25%<br>35,000<br>37,000<br>24%<br>37,000<br>39,000<br>23%<br>39,000<br>41,000<br>22%<br>41,000<br>43,000<br>21%<br>43,000<br>No limit<br>20%<br>What is their child and dependent care credit?<br>$4<br>X<br>

Extracted text: Marty and Jean are married and have 4-year-old twins. Jean is going to school full-time for 11 months of the year, and Marty earns $64,300. The twins are in day care so Jean can go to school while Marty is at work. The cost of day care is $10,100. TABLE 6.1 CHILD AND DEPENDENT CARE CREDIT PERCENTAGES Adjusted Gross Income Applicable Percentage Over But Not Over $0 $15,000 35% 15,000 17,000 34% 17,000 19,000 33% 19,000 21,000 32% 21,000 23,000 31% 23,000 25,000 30% 25,000 27,000 29% 27,000 29,000 28% 29,000 31,000 27% 31,000 33,000 26% 33,000 35,000 25% 35,000 37,000 24% 37,000 39,000 23% 39,000 41,000 22% 41,000 43,000 21% 43,000 No limit 20% What is their child and dependent care credit? $4 X

Jun 11, 2022
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