Robert and Mary file a joint tax return for 2021 with adjusted gross income of...
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Robert and Mary file a joint tax return for 2021 with adjusted gross income of $104,000. Robert and Mary earned income of $30,000 and $74,000, respectively, during 2021. In order for Mary to be gainfully employed, they pay the following child care expenses for their 4-year-old son, John: Union Day Care Center for John $6,700 Wilma (Robert's mother) for babysitting John $4,000 What is the amount of the child and dependent care credit they should report on their tax return for 2021 (assume no tax liability limitation)? a. $10,700 b. $5,350 c. $3,000 d. $2,140 e. None of these choices are correct.
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