Clarita is a single taxpayer with two dependent children, ages 10 and 12. Clarita pays $3,000...

Clarita is a single taxpayer with two dependent children, ages 10 and 12. Clarita pays $3,000 in qualified child care expenses during the year.

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%

If her adjusted gross income (all from wages) for the year is $19,600 and she takes the standard deduction, calculate Clarita’s earned income credit and child and dependent care credit for 2019.

Click here to view the Earned Income Credit table.

Child and dependent care credit	$
Earned income credit	$

Solutions

Expert Solution

ekkarill92 answered 1 year ago

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