2007-01-04 09:11:33 · 7 answers · asked by dusjesmom 2 in Business & Finance ➔ Taxes ➔ United States
If you are working (and your spouse as well if you are married), then you can claim the tuition for the child care credit. However, you can only claim up to $1,400 per child/$2,800 total and of this you only get a tax credit of 20%. So the most you would be getting is $280/$560.
2007-01-04 09:18:17 · answer #1 · answered by jseah114 6 · 0⤊ 0⤋
The upper income constraint for "05 was $43,000 for the dependent care credit. You can claim this for Pre-K. the Credit percentage is a sliding scale with lower incomes getting a larger credit. At the low end it is 35%, and decrease 1% for each $2000 jump from the low of $15,000 (for '05) to a minimum of 20% before it goes away at the upper limit. These numbers should be higher for '06
2007-01-04 17:45:01 · answer #2 · answered by hdsok 2 · 0⤊ 0⤋
If you are not married and work, or if you are married and both your spouse and you work, then you can take a credit for preschool tuition against tax you owe by filling out form 2441 and attaching it to your tax return. You will get a credit of between 20 and 35 percent of the first $3,000 of tuition you paid in 2006.
If you or your spouse is a full-time student, or looking for work, or is disabled, that qualifies you as well.
2007-01-05 14:00:35 · answer #3 · answered by ninasgramma 7 · 0⤊ 0⤋
You can definitely claim daycare costs. Does that count?
2007-01-04 17:15:26 · answer #4 · answered by Phoenix, Wise Guru 7 · 0⤊ 0⤋
Depends on your income level. If you make too much money it won't help you.
2007-01-04 17:19:31 · answer #5 · answered by Dizney 5 · 0⤊ 0⤋
yes you can claim that on your taxes,if your son is your dependent and no one else can claim him.
2007-01-04 17:16:46 · answer #6 · answered by sassie 2 · 0⤊ 1⤋
rich people...
2007-01-04 17:20:14 · answer #7 · answered by Karate Kid 1 · 0⤊ 2⤋