Robert and Mary File a Joint Tax Return for 2016

question 31

Multiple Choice

Robert and Mary file a joint tax return for 2016 with adjusted gross income of $34,000. Robert and Mary earned income of $20,000 and $14,000, respectively, during 2016. 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 2016?

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

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Definitions:

Resamples

The process of drawing repeated samples from a set of observed data, typically for the purpose of making statistical inferences or estimates.

Bootstrap

A statistical method that involves resampling a single dataset to create many simulated samples, used in assessing variability.

Mean

The average of a set of numbers, calculated by dividing the sum of these numbers by the count of numbers in the set.

Bootstrap Estimates

Bootstrap estimates refer to statistical estimates obtained by repeatedly sampling, with replacement, from a data set to assess the distribution of an estimator.