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Fairness doesn't usually enter into laws made by Congress. I suppose they had a good reason to deny the dependent care credit to MFS, but you would have to ask them (probably back in 1986). You can use a tax-free dependent care FSA to pay for care expenses even when married filing separately.
Once you have used your $5,000 FSA for childcare expenses you can’t use the same expenses for the childcare credit that’s why the eligible credit amount for child and dependent care is $1,000. You already received the tax-free benefit from the FSA so you can’t double dip.
Follow these steps to get to the Child and Dependent Care Credit in TurboTax. Note: If your TurboTax navigation looks different from what’s described here, learn more. If you're not in your return already, sign in to TurboTax. Select either Edit or Pick up where you left off under Deductions and Credits. Select You and Your Family.
The Child and Dependent Care Credit is worth as much as 35% of your qualified expenses, up to $3,000, (for one qualifying person), and $6,000 (for two or more qualifying persons). Your percentage depends on your AGI, with the higher percentages applying to lower incomes and vice-versa.
CHILD AND DEPENDENT CARE CREDIT . You will not get the childcare credit until (unless) you enter income earned from working. The credit does not work unless you enter your income first. If you are filing a joint return you must show income for both spouses, or show that one or both of you was a student or disabled.
- click Edit/Add for the Dependent Care Credit deduction - answer Yes for the question "Did you pay for child and dependent care in 2021?" - answer Yes for the "principal place of residence in the U.S." question - answer "None of the above" for both my spouse and I in the Tell Us More screen . I am bounced back out to the main Deductions ...
Yes, preschool tuition counts for the Child and Dependent Care credit. Nursery school, preschool, and similar pre-kindergarten programs are considered child care by the IRS. Summer day camps also count as child care. Expenses for overnight summer camps, kindergarten, and first grade (or higher) don't qualify for the Child and Dependent Care credit.
When I get to Federal Review, it says "your Child and Dependent Care Credit info is incomplete." So I click to go back and complete that section, which asks "do you want to work on the child and dependent care credit now." I select "yes" and on the next screen I confirm that neither I nor my spouse ...
That will give you the EIC, Child Care Credit and Head of Household filing status if you otherwise qualify. The child would be listed as "non-dependent EIC & Dependent Care only". The other (non-custodial) parent can claim the child’s exemption and child tax credit only and needs a signed 8332 form to do so.
Only the custodial parent can claim the child and dependent care credit. The family court cannot override federal tax law. The court order is telling you to do something that is impossible, and that is not legal under federal tax law. You have to tell your lawyer to get the court order revised so that it conforms to federal tax law.