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You are eligible to claim this credit if you (or your spouse in the case of a joint return) pay someone to care for one or more qualifying persons in order for you to work or look for work, and your income level is within the income limits set for the credit.
The child and dependent care credit is generally worth 20% to 35% of up to $3,000 (for one qualifying dependent) or $6,000 (for two or more qualifying dependents). This means that the maximum...
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.
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 must reduce the expenses primarily for the care of the individual by the amount of any dependent care benefits provided by your employer that you exclude from gross income. In general, you can exclude up to $5,000 for dependent care benefits received from your employer.
Thanks to a temporary change codified in the American Rescue Plan, parents or guardians can now claim a maximum credit of $4,000 (50% of $8,000 in expenses) for one child, and $8,000 for two...
The limit is $6,000 if the taxpayer paid for the care of two or more. Dependent Care Benefits. Special rules apply for people who get dependent care benefits from their employer. Form 2441, Child and Dependent Care Expenses, has more on these rules. File the form with a tax return. Qualifying Person’s SSN.