Asked by Geairra Wesley on Jun 29, 2024
Verified
Tuan and Marisa are married,file a joint return,and have two dependent children,Zack,age 6 and Aaron,age 5.Tuan has earned income of $72,000.Marisa was a full- time student (for nine months) with no income.They paid a qualified day care center $5,000.How much is Tuan and Marisa's child and dependent care credit for the year?
A) $600.
B) $900.
C) $1,000.
D) $1,200.
Dependent Children
Children who are financially supported by a parent or guardian and meet specific criteria, qualifying the parent to receive tax benefits; a reiteration with emphasis on the criteria aspect.
Qualified Day Care Center
A child care facility that meets specific criteria set by the IRS to be eligible for certain tax benefits.
Full-Time Student
A status for individuals who attend an educational institution for a certain number of hours or courses as defined by the institution.
- Recognize the requirements and limits for claiming the child and dependent care credit.
Verified Answer
Learning Objectives
- Recognize the requirements and limits for claiming the child and dependent care credit.
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