Which of the following individuals or couples qualify for the child and dependent-care credit?
I. Lois is single and earns $45,000 for the year. She pays $2,600 in child-care costs for her 8-year-old daughter.
II. Patrick and Carol are married and together they earn $67,000 ($42,000 and $25,000 respectively). They pay $5,000 in child-care costs for their twin boys, age 11
a. Only statement I is correct.
b. Only statement II is correct.
c. Both statements are correct.
d. Neither statement is correct.
c
Business
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