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What is the maximum child care deduction

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Question - Henry and Maria Jones were both employed full-time during the year. The Jones's have 3 children: Gloria (age 12), Billy (5 years old) and Gordo (3 years old). The Jones employed a nanny to look after their children and paid her $24,000 for the year. In addition, during August, the 5-year-old went to overnight camp for 3 weeks at a cost of $400 per week. The Jones' family income is summarized below:

 

Mary

Sam

Salary and taxable benefit

28,500

 

Employment expense

(5,800)

 

Business income...

 

 

Revenues

 

75,000

Expense deductible for tax purpose

 

(45,000)

Interest income

1800

3500

Required - What is the maximum child care deduction that can be claimed by the Browns in the year?

Reference no: EM133051406

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