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FAQs about the Child and Dependent Care Credit expansion due to the ARPA. Claiming the Credit (Q1-Q17) Work-related expenses (Q18-Q23) The child and dependent care credit is a tax credit that may help you pay for the care of eligible children and other dependents (qualifying persons).
You may be able to claim the credit if you pay someone to care for your dependent who is under age 13 or for your spouse or dependent who isn't able to care for themselves. The credit can be up to 35% of your employment-related expenses.
You can claim from 20% to 35% of your care expenses up to a maximum of $3,000 for one person, or $6,000 for two or more people (tax year 2023). Benefits of the tax credit. The Child and Dependent Care Credit is a tax break specifically for working people to help offset the costs associated with caring for a child or dependent with disabilities.
The child and dependent care credit (CDCC) is a tax credit for parents or caregivers to help cover the cost of qualified care expenses for a child under 13, a spouse or parent unable to...
You may be able to claim the child and dependent care credit if you paid expenses for the care of a qualifying individual to enable you (and your spouse, if filing a joint return) to work or actively look for work.
It’s called the Child and Dependent Care Tax Credit (CDCC), and you might be able to get back some of the money you spent on these expenses by claiming it. Learn more about this valuable tax credit and its nuances here. How much is the Child and Dependent Care Credit worth?
The Child and Dependent Care Credit is a tax credit you may be able to claim for child care expenses you paid for your dependent child under 13 (no age limit for a disabled dependent) so that you (and your spouse, if filing a joint return) can work or actively look for work.
Your eligibility to claim the child and dependent care credit will depend on the amount you paid to care for a qualifying child, spouse, or other dependent. Find out how the child and dependent care credit works, if you qualify, and how to report the claim on your tax return. LAST UPDATED: January 10, 2024. SHARE THIS PAGE: Have a question?
Introduction. This lesson covers the credit for child and dependent care expenses. Some taxpayers may not be aware of this credit. Your time and efort may result in a lower tax for the taxpayers. Calculate the credit using Form 2441, Child and Dependent Care Expenses. Don’t confuse this credit with the child tax credit! Objectives.
Print. Determine if you're eligible to claim the Child and Dependent Care Credit for expenses paid for the care of an individual to allow you to work or look for work.