Credits

Question 1

Child care credit

Answer 1

35% of qualified expenses, reduced by 1 percentage point for each $2,000 of AGI over $15,000, down to a minimum of 20%.
Qualified expenses are limited to the lesser of $3,000 for one qualified dependent, or $6,000 for 2 or more.

Question 2

Child tax credit phaseout

Answer 2

AGI: $400,000 MFJ, $200,000 single
Credit is reduced $50 for each $1,000 (or part thereof) of excess AGI