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The amount of employment-related expenses is limited to $4,900 for two or more children. This amount must be reduced by the $2,100 that Martha received from her employer. Thus, their allowed expenses are $2,800. Since their AGI was below $43,000, Tim and Martha are entitled to a credit equal to 21% of their expenses, or $588.
If the couple had AGI of $37,000 earned by solely Tim, the credit would be zero. The credit is permitted if you have child care expenses incurred to be gainfully employed.
Since Martha was not employed, no credit is permitted. Allowed expenses are limited to the earned income of the taxpayer or the taxpayer’s spouse, whichever is smaller.
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