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Question - Child & Dependent Care Expenses and Child Care Credit - The Smith's want to claim "Child & Dependent Care Expenses" and the Child Care Credit. During 2015 the Smith's spent $6,000 on an educational summer travel program for their son Andrew.
Please Comment on whether the Smith's would qualify to deduct any Child and Dependent Care expenses or qualify for the Child Credit.
How much for the child care expenses and the child tax credit?
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For the year ended December 31, 2011, Blake reported income of $63,000 and paid cash dividends of $14,000 on its common stock. What is the proper carrying value of Clyde's investment in Blake at December 31, 2011?
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