Robert and Mary File a Joint Tax Return for 2015

question 82

Multiple Choice

Robert and Mary file a joint tax return for 2015 with adjusted gross income of $34,000. Robert and Mary earned income of $20,000 and $14,000, respectively, during 2015. In order for Mary to be gainfully employed, they pay the following child care expenses for their 4-year-old son, John: What is the amount of the child and dependent care credit they should report on their tax return for 2015?

• A)$270
• B)$459
• C)$675
• D)$729
• E)None of the above

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Definitions:

Commercial Use

The exploitation of products, services, or activities with the primary goal of generating profit and economic growth.

Seafaring Trade

The exchange of goods and services across the seas and oceans, requiring navigational and maritime skills developed throughout human history.

Informal Economy

Economic activities that occur outside of formal regulatory frameworks, often lacking in legal protection and involving cash-based transactions.

Marketable Commodities

Goods or products that can be bought and sold easily in the market because they are in demand.