Judy, looks after Kaelyn's four-year-old twins so Kaelyn can go to work (she drops off and picks up the twins from Judy's home every day). Since Judy is a relative, Kaelyn made sure, for tax purposes, to pay her mother the going rate for child care ($6,360 for the year). What is the amount of Kaelyn's child and dependent care credit if her AGI for the year was $36,60

$1,440

Explanation:

Judy is not a dependent relative of Kaelyn, therefore the expenditures are qualified up to $6,000 (for two qualifying persons).

Thus the applicable percentage is 24%.

($6,000×24%)

=$1,440 allowable credit

Therefore the amount of Kaelyn's child and dependent care credit if her AGI for the year was $36,600 will be $1,440

forbearance of student loan payments. under forbearance, your loan payments are postponed (or reduced) but interest continues to accrue during the period of forbearance. if you don't pay the interest during that period, the interest may be “capitalized,” which means it is added to your principal balance.

answer; 33,000;