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  46) Sean and Jenny married, file a joint return and

Question :   46) Sean and Jenny married, file a joint return and : 2125627

 

46) Sean and Jenny are married, file a joint return and have two dependent children, Blake, age 9 and Jake, age 5. Sean has earned income of $72,000. Jenny was a full-time student (for nine months) with no income. They paid a qualified day care center $7,000. What amount of child and dependent care credit can Sean and Jenny receive?

A) $0.

B) $900.

C) $1,200.

D) $1,400.

47) A qualifying individual for the purposes of the child and dependent care expenses credit includes all of the following except:

A) A dependent under the age of 13.

B) An adult child who is incapable of caring for himself/herself.

C) A dependent child, age of 17 who attends school full time.

D) A spouse who is incapable of caring for himself/herself.

48) Which of the following statements is not true with regard to the child and dependent care expense credit?

A) The maximum amount of expenses for one dependent is $3,000.

B) Married taxpayers must file joint returns.

C) A non-working spouse attending school full-time is deemed to have earned income of $250 per month for one qualifying person.

D) The maximum amount of expenses for two or more dependents is $6,000.

49) Kylie is a single mom with two dependent children, Tanner, age 7 and Olivia, age 11. She has AGI of $36,000 and paid $5,300 to a qualified day care center for the two children. What amount of credit can Kylie receive for the child and dependent care credit?

A) $5,300.

B) $1,060.

C) $1,200.

D) $1,272.

50) April and Joey are both 74 years old and received $1,500 in nontaxable social security benefits. Their AGI for the year was $18,000. How much can April and Joey claim as a credit for the elderly or the disabled?

A) $300.

B) $1,125.

C) $1,500.

D) $2,000.

 

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