What is maximum amount of qualified expenses john can use

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Reference no: EM132665479

Problem 1: Mia and Noah have four children, ages one month, 13, 15, and 19. Their AGI is $96,500, and their tax liability is $8,267. During the tax year, their 19-year-old son decided to postpone going to college and got a job instead. He earned wages of $7,400 and provided most of his support. They have no other nonrefundable tax credits. What is the amount of their child tax credit/credit for other dependents?

Select one:

a. $6,000

b. $6,500

c. $4,000

d. $8,000

Problem 2: John has two sons. David is 3-year-old, and Tommy turned 13 on May 1st in 2019. John paid a local daycare provider $12,000 for David from January through December and $3,000 for Tommy from January through June. John's earned income is 60,000. What is the maximum amount of qualified expenses John can use to figure the child and dependent care credit?

Select one:

a. $ 5,000

b. $ 6,000

c. $ 3,000

d. $15,000

Reference no: EM132665479

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