Who is considered to be a qualifying person for this purpose

Reference no: EM13906043

1. Diane has a job working three-quarter time. She hired her mother to take care of her two small children so Diane could work. Do Diane's child care payments to her mother qualify for the child and dependent care credit? Explain.

2. The amount of the child and dependent care credit is based on the amount of the taxpayer's expenditures to provide care for one or more qualifying persons. Who is considered to be a qualifying person for this purpose?

Reference no: EM13906043

Questions Cloud

For partnership-amounts recorded for capital account : Badger and Fox are forming a partnership. Badger invests a building that has a market value of $352,000; the partnership assumes responsibility for a $126,000 note secured by a mortgage on the property. Fox invests $101,000 in cash and equipment that..

General journal entry to record the final distribution : Mack, Harris, and Huss are dissolving their partnership. Their partnership agreement allocates income and losses equally among the partners. The current period's ending capital account balances are Mack, $15,800, Harris, $15,800, Huss, $(2,800).

Tentative budget-increase in budgeted net operating income : Sun Company's tentative budget for next year is as follows. Assuming that Johnston's proposal is incorporated into the budget, what should be the increase in the budgeted net operating income for next year?

Draw mo energy diagram for hb+ : Draw correlation diagram for pi framework for 1,3-butadiene(CH2=CH-CH=CH2). How many pairs of electrons are shared between the middle two carbons in 1,3-butadiene? How many pairs of electrons are shared between the first two carbons in 1,3-butadien?

Who is considered to be a qualifying person for this purpose : The amount of the child and dependent care credit is based on the amount of the taxpayer's expenditures to provide care for one or more qualifying persons. Who is considered to be a qualifying person for this purpose?

Balance sheet just before entering liquidation : The Keaton, Lewis, and Meador partnership had the following balance sheet just before entering liquidation: Keaton, Lewis, and Meador share profits and losses in a ratio of 2:4:4. The partnership feels confident it will be able to eventually sell the..

Calculate the ph of a solution during titration : Calculate the pH of a solution during titration, when 19.50 mL of 0.30 M NaOH is added to 20.00 mL of 0.31 M HC2H3O2.

Rory company has a machine with a book value : Rory Company has a machine with a book value of $ 75,000 and a remaining five year useful life.

Foss will use the building in its operations : Foss company bought land with a vacant building for $400,000. Foss will use the building in its operations. Must Foss allocate the purchase price between the lands an building. Why or why not? Would your answer be different if foss intends to raze th..

User Account

All Pages