John currently claim his two children as dependents. His adjusted gross income in 2018 was $41,000....
John currently claim his two children as dependents. His adjusted gross income in 2018 was $41,000. In this year, he paid $5,000 to care for his children. What is the maximum dependent care credit he can claim this year?
Homework Answers
Maximum Dependent Care He can Claim In year is upto $6000.
This is as per the IRS laws for the year of 2018
Therefore in the given case there is upto $5000 *22% i.e $ 1100 is allowed
Add Answer to:
John currently claim his two children as dependents. His
adjusted gross income in 2018 was $41,000....
Arthur is divorced with two dependent children, ages 8 and 13. His adjusted gross income is...
Arthur is divorced with two dependent children, ages 8 and 13. His adjusted gross income is $28,000, in 2018, and he incurs qualified child care expenses of $6,000, $3,000 for each child. a. What is the amount of Arthur's qualified child care expenses after any limitation? b. Calculate the amount of Arthur's child and dependent care credit before any tax liability limitation.
me: Jacqueline and John, married, and earned income $74,873 in 2018. They have two children, Kenneth...
me: Jacqueline and John, married, and earned income $74,873 in 2018. They have two children, Kenneth and Aaron who are 3 and 5 years old. Jacqueline and John paid $10,000 in day care for Kenneth and Aaron in 2018. John's employer reimbursed $5,000 of dependent care expense. Jacqueline had full-year health insurance coverage for ner household from her employer. The insurance premium deducted from her paycheck was $13,000 in 2018. Based on the facts above, please answer the following questions:...
Clark maintains a household for himself and his two dependent preschool children and files as head...
Clark maintains a household for himself and his two dependent preschool children and files as head of household. For the year ended December 31, 2018, Clark earned a salary of $62,000. He paid $3,600 to a housekeeper to care for his children in his home, and also paid $1,500 to a kiddie play camp for child care. He had no other income or expenses during 2018. His tax liability before any credits is $5,011. How much can Clark claim as...
Questions and Problems V. Ramon, a single taxpayer with no dependents, has adjusted gross income for...
Questions and Problems V. Ramon, a single taxpayer with no dependents, has adjusted gross income for 2019 of $98.000 and his itemized deductions total $19.000. What taxable income will Ramon show in 2019? a. $74,950 b. $74,850 c. $79,000 (d) $85 ano LO 1.4 c. $87,650 8. Ben is a single taxpayer with no dependents and is 32 years old. What is the minimum amount of income that he must have to be required to file a tax return for...
A taxpayer's adjusted gross income is $120,000. Explain if the taxpayer can claim the following independent items for the dependent care credit and if not, why. (A) The dependent care expenses wer...
A taxpayer's adjusted gross income is $120,000. Explain if the taxpayer can claim the following independent items for the dependent care credit and if not, why. (A) The dependent care expenses were paid to the taxpayer's mother. (B) The dependent care expenses were paid to the taxpayer's 18-year-old son, who is NOT a dependent of the taxpayer. (C) The taxpayer's only dependent will turn 13 years old on July 15 of the current year. (D) The dependent-care services were provided...
Neville and Julie are married and have two children ages 19 and 14. Their adjusted gross...
Neville and Julie are married and have two children ages 19 and 14. Their adjusted gross income for the year is $85,200. Round all calculations (including all fractions) up to the next whole number. a. Neville and Julie can claim $______ as a child credit. b. They can claim $ ______ for the child credit if their children are ages 16 and 13. c. Assume the same facts as part a except that their adjusted gross income is $430,000. Neville...
In 2018, Alex has income from wages of $16,000, adjusted gross income of $18,000, and tax...
In 2018, Alex has income from wages of $16,000, adjusted gross income of $18,000, and tax liability of $300 before the earned income credit. What is the amount of Alex's earned income credit for 2018, assuming he is single and his 5-year-old dependent son lives with him for the full year? a.$0 b.$2,000 c.$3,461 d.$373 e.None of these choices are correct.
In 2018, David, age 66, had adjusted gross income of $27,000. During the year he paid...
In 2018, David, age 66, had adjusted gross income of $27,000. During the year he paid the following medical expenses: Prescription medicines $275Doctors $1350 Health insurance premiums insurance $400 Two pairs of eyeglasses $185 What amount can David deduct as medical expenses (after the adjusted gross income limitation) in calculating his itemized deductions for 2018? A $2710 b $2025 c $185 d $0
In 2018, Laureen is currently single. She paid $2,500 of qualified tuition and related expenses for...
In 2018, Laureen is currently single. She paid $2,500 of qualified tuition and related expenses for each of her twin daughters Sheri and Meri to attend State University as freshmen ($2,500 each for a total of $5,000). Sheri and Meri qualify as Laureen’s dependents. Laureen also paid $1,800 for her son Ryan’s (also Laureen’s dependent) tuition and related expenses to attend his junior year at State University. Finally, Laureen paid $1,300 for herself to attend seminars at a community college...
A. John has two sons. David is 3-year-old, and Tommy turned 13 on May 1st in 2018. John paid a local daycare provider $1...
A. John has two sons. David is 3-year-old, and Tommy turned 13 on May 1st in 2018. 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? a) $15,000 b) $ 5,000 c) $ 6,000 d) $ 3,000 B. Amy is single and works part-time...
me: Jacqueline and John, married, and earned income $74,873 in 2018. They have two children, Kenneth and Aaron who are 3 and 5 years old. Jacqueline and John paid $10,000 in day care for Kenneth and Aaron in 2018. John's employer reimbursed $5,000 of dependent care expense. Jacqueline had full-year health insurance coverage for ner household from her employer. The insurance premium deducted from her paycheck was $13,000 in 2018. Based on the facts above, please answer the following questions:...
Questions and Problems V. Ramon, a single taxpayer with no dependents, has adjusted gross income for 2019 of $98.000 and his itemized deductions total $19.000. What taxable income will Ramon show in 2019? a. $74,950 b. $74,850 c. $79,000 (d) $85 ano LO 1.4 c. $87,650 8. Ben is a single taxpayer with no dependents and is 32 years old. What is the minimum amount of income that he must have to be required to file a tax return for...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 10 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 10 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 10 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 10 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 10 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 10 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 10 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 10 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 10 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 10 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 10 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 10 months ago