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why is the household and dependent care credit sometimes only 20 percent and other times as...

why is the household and dependent care credit sometimes only 20 percent and other times as high as 35 percent?
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Answer #1

The Child and Dependent Care credit is calculated 20% to 35% of qualified expenses. The percentage is based on your adjusted gross income (AGI). The maximum amount of qualified expenses on which credit is allowed : 3,000 for one qualifying person and 6,000 for two or more qualifying persons.

As I mentioned earlier, the credit percentage depends on your income, for AGI below $15,000, full 35% is allowed . For every additional AGI of $2000, the percentage falls by 1% until it reaches 20% (for an income equal to or above $43,000).

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