Category: Child & Dependent Care Expense Credit
Child And Dependent Care Expense Credit
An individual that pays someone to care for their dependents (qualifying child under age 13, or their spouse or any dependent who is physically and mentally incapable of their own care) while they work or look for work, may be able to claim a credit for their expenses. Child and dependent care expenses must be claimed on Form 2441 to figure and receive the credit. Certain qualifying tests must be met in order to claim the Child And Dependent Care Expense Credit.
To display the qualifying tests, click here.
The maximum amount of qualified child and dependent care expenses that can be claimed on Form 2441 is $3,000 for one qualifying person, $6,000 for two or more qualifying persons.
You can use Form W-10, or any other source listed in its instructions to get the information from the care provider. If you do not give correct or complete information, your credit (and exclusion, if applicable) may be disallowed unless you can show you used due diligence in trying to get the required information.
To display instructions for entering Child And Dependent Care Expense Credit in the tax program click here.
NOTE: This is a guide on entering Child And Dependent Care Expenses into the TaxSlayer Pro program. This is not intended as tax advice. For additional information refer to the Additional Links below.
Publication 17, Your Federal Income Tax
Publication 503, Child and Dependent Care Expenses
Publication 926, Household Employer's Tax Guide
Topic 602 - Child and Dependent Care Credit