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What is the amount of credit for child and dependent care

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Question - Jodi and her spouse are legally married and have two children, ages 8 and 14. They spent 8,200 in 2020 on qualifying expenses for the care of the kids after school until Jodi could pick them up around 5pm. Jodi earned a salary of 118,000 and her spouse earned a salary of 103,000.

What is the amount of credit for the child and dependent care expenses they can claim on the 2020 federal income tax return?

What is the amount Jodi and her spouse can claim as a child tax credit on their 2020 joint federal income tax return?

Reference no: EM133020686

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