Marvin and Pamela are married, file a joint return, and have two children, ages 9 and 11. Their combined AGI is $65,000. Marvin's earned income is $40,000; Pamela's is $25,000. They incur $6,500 of child care expenses to enable them to be employed during the current year. Their child and dependent care credit is ___________.
A) $1,200.
B) $1,300.
C) $1,800.
D) $6,000.
A) $1,200.
$6,000 (limit for two or more children) × .20 = $1,200. Their AGI is above the amount at which the 20% rate applies.
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