Concerning the Credit for Child and Dependent Care

question 124

Multiple Choice

Concerning the credit for child and dependent care
I.If a taxpayer's adjusted gross income exceeds $43,000, the child and dependent care credit rate is reduced to 20%.
II.No credit is allowed for expenses incurred outside the home.
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• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.