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Shyla has two children, Amar, age 8, and Darsh, age 10. Amar and Darsh attended daycare after school. Shyla paid $14,000 in child care expenses in 2021. Her AGI is $120,000. What is the amount of her Child and Dependent Care Expenses Credit

Sagot :

Based on the information given, the amount of her child and dependent care expense credit will be $7000.

It should be noted that the enhanced credit of 2021 allows the eligible parents to claim up to 50% of the child care expenses paid.

In this Shyla paid $14000 as her child care expenses for her children in 2021. Therefore, the the amount of her child and dependent care expense credit will be calculated thus:

= $14000 × 50%

= $7000.

Read more about AGI on:

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