Form 2441 Child and Dependent Care Expenses Department of the Treasury Internal Revenue Service (99) 1040 1040A . Attach to Form 1040, Form 1040A, or…

Hi, 

I need help with my homework assignment for my federal income taxation accounting class. It is on chapter 8: Individual income tax computation and tax credits from the text book Taxation of Individuals 2017 (8th edition), by Spilker, etc.

Homework 7

Use your textbook and the instructions for the forms, which can be found at IRS.gov, to complete the required forms.

  • William (52) and Carla (50) Jones have 3 children: Mark, age 14 (SSN 124-58-1111) and Tom, age 10 (SSN 124-58-1112) and Kim, age 8 (SSN 124-58-9898).  The Jones paid $12,000 to Kids R Us (EIN 22-1134565) for daycare ($5,000 for Tom and Kim and $2,000 for Mark).  William works full-time and earned $55,000 this year, while Carla worked part-time and made $5,000. Assume AGI of $60,000 and tax liability before credits of $8,073.

Required: Prepare Form 2441 for the Jones

  • Alice (25) Smith is a single parent who files Head of Household, with AGI of $60,000.  Alice took one class at the local community college at night to improve her job skills.  She spent $1,000 in tuition to Orange Community College (EIN 34-4213415).  Her daughter, Melanie, is 19 and a full-time student at Penn State (EIN 43-1233454).  Melanie is in her second year, and has never been convicted of a drug crime.  Her tuition after scholarships was $10,000.  Both Alice and Melanie received forms 1098-T showing their tuition amounts.

Required: Prepare Form 8863 for Alice (Hint: A separate page 2 must be completed for each person in college). 

For lines 18 & 19 – you do not need to complete the credit limitation worksheet; line 19 is equal to line 18 + line 9.

I have attached the required forms that must be completed to this post. 

Thank you!

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