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For 2021, the 50-percent amount begins to phase out if your adjusted gross income is more than $125,000, and completely phases out if your adjusted gross income is more than $438,000. For more information on the percentage applicable to your income level, please refer to the 2021 Instructions for Form 2441 or IRS Publication 503, Child and ...
To be able to claim the credit for child and dependent care expenses, you must file Form 1040, 1040-SR, or 1040-NR, and meet all the tests in Tests you must meet to claim a credit for child and dependent care expenses next.
For the 2025 tax year, the credit phase-out begins at $259,190 and phases out completely at $299,190 or above. Keep in mind, that there are some limitations, including a special needs exception.
If you paid someone to care for a child who was under age 13 when the care was provided and whom you claim as a dependent on your tax return, you may qualify for the Child and Dependent Care Credit.
The adjusted gross income level at which the credit percentage starts to phase out is raised to $125,000. Above $125,000, the 50% credit percentage goes down as income rises. It is entirely unavailable for any taxpayer with adjusted gross income over $438,000.
Tax Tip 2022-33, March 2, 2022 — Taxpayers who are paying someone to take care of their children or another member of household while they work, may qualify for child and dependent care credit regardless of their income.
What is the child and dependent care credit? The child and dependent care credit is a tax break to help cover families’ child care expenses, so they can continue working or searching for...