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7 July, 06:36

Kobe is a single dad with two dependent children, Lizzie, age 7 and Leslie, age 3. He has AGI of $51,000 and paid $3,700 to a qualified day care center. What amount of credit can Kobe receive for the child and dependent care credit?

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  1. 7 July, 10:21
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    amount of credit Kobe receive for child & dependent care credit is $740

    Explanation:

    given data

    Lizzie age = 7

    Leslie age = 3

    AGI = $51,000

    paid care center = $3,700

    to find out

    amount of credit can Kobe receive

    solution

    we know that here when AGI is more than $43,000

    than there child and dependent care credit = 20% of the expenses ... 1

    so here amount of credit receive will be as

    amount of credit Kobe receive = 20% * paid care center ... 2

    amount of credit Kobe receive = 20% * $3700

    amount of credit Kobe receive = $740

    so amount of credit Kobe receive for child & dependent care credit is $740
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