Child and Dependent Care Benefits
This publication contains information on Child and Dependent Care Expenses,
What is publication 503
What Form is Education Credits (American Opportunity and Lifetime Learning Credits)
What is 8863.
What publication is titled Earned Income Credit?
What is publication 596.
From 8839 is titled as?
What is Qualified Adoption Expenses.
Foreign earned Income is the name of what form?
What is form 2555.
This credit ranges from 20 percent to 35 percent of work-related expenses, depending on the taxpayer’s AGI.
What is the child and dependent care expenses credit
Tax Benefits for Educations is the name of what Publication?
What is Publication 970.
The EIC has how many rules?
What is 15.
How many parts are on Form 8839?
What is three.
Dependents, Standard Deduction, and Filing Information is the name of what Publication?
What is Publication 501.
True or false
Earned income includes: Wages, Social Security Benefits, Tips, Salaries, Other taxable employee compensation, and Net earnings from self-employment.
What is False, SSA is not earned income
Which of the following statements is true regarding the American Opportunity and Lifetime Learning Credits?
A. Both credits are partially refundable.
B. Neither credit is refundable.
C. The American Opportunity Credit is fully refundable, and the Lifetime Learning Credit is not refundable.
D. The Lifetime Learning Credit is not refundable, and the American Opportunity Credit is 40 percent refundable.
What is D.
Will and Jane Marten file MFJ and earned wages of $12,235 and $9,856, respectively. During the year Jane also received child support of $1,300 and alimony of $6,000, while Will received $1,200 in veterans’ benefits.
What is their earned income?
What is $22,091.
How many conditions could limit the amount of adoption credit allowed as a nonrefundable credit?
What is four?
Part II of Form 8812 has how many sections?
What is Three.
A,B,C,
Julia Star recently lost her job and needs to find a place to care for her 10-year-old dependent son for a week while she looks for work. She wants to be able to claim the credit for child and dependent care expenses.
Which of the following should she not choose?
A. A 5-day soccer camp, from 8 a.m. to 5 p.m. each day, that costs $1,000
B. A 5-day, overnight Boy Scout camp that costs $300
C. A neighbor who is willing to look after her son during the day for $100
D. A local park program that is running a different sport camp each day for its residents that costs $10 per day
What is B
The maximum total American Opportunity Credit is ______ per student.
What is $2,500.
To meet the age requirement a child must be:
Under age 19 at the end of 2025 and younger than you (or your spouse, if filing jointly).
Under age 24 at the end of 2025, a student, and younger than you (or your spouse, if filing jointly)
and ?
What is Permanently and totally disabled at any time during 2025, regardless of age.
Will take permanently or totally disabled as an answer.
An eligible child must be either?
Note:
This questions requires two answers.
What is
o Under age 18 or
o Physically or mentally incapable of self-care.
Generally, the Child Tax Credit (CTC) is a _________ credit that reduces tax liability.
What is a nonrefundable credit?
Because the child and dependent care credit is nonrefundable in 2025, the credit amount may be limited based on the taxpayer’s tax liability. To determine whether the allowable credit will be limited, taxpayers complete the ____________ per the Form 2441 Instructions for line 10.
What is the Credit limit worksheet.
Taxpayers must reduce qualified higher education expenses paid by any tax-free portions of:
o Scholarships or fellowships.
o Employer-provided or veterans’ educational assistance programs.
o Other non-taxable payments they received
and ??
What are Pell grants.
If the EIC disallowance was due to negligence or intentional disregard for the rules and regulations, the taxpayer must wait ___years before again claiming the credit.
What is two.
The credit or exclusion is limited if the ____ is above a threshold amount.
What is MAGI.
For tax years 2024 and 2025, the maximum CTC is ______ per qualifying child. The maximum refundable portion is $1,700 per qualifying child
What is $2,000.