Guillermo and Felicia Are Married,file a Joint Return,and Have One

question 116

Multiple Choice

Guillermo and Felicia are married,file a joint return,and have one dependent child;Hannah,age 6.Guillermo has earned income of $38,000.Felicia was a full-time student (for 8 months) with no income.They paid a qualified day care center $4,800.What is the amount of their child and dependent care credit for the year?

• A)$0.
• B)$460.
• C)$600.
• D)$4,800.

---

Definitions:

Limited Production

A production strategy where a restricted quantity of a product is made, often to maintain exclusivity or because of constraints.

Book Value

The value of an asset as recorded on the balance sheet, calculated as the cost of the asset minus any depreciation or amortization.

Salvage Value

The estimated residual value of an asset at the end of its useful life, expected to be recovered upon disposal.