Tax questions?

Question

Can you report child care expenses? Do you get all of it back? What do you need in order to report it?

Answer 1

You can claim child care expenses of up to $1,400 per child to a maximum of $2,800 in total towards the child care credit. The maximum credit is 20% of the eligible child care expenses. This means that the maximum credit is $280 for one child, and $560 for two or more children.

Answer 2

Taxpayers who paid someone to care for their child under age 13 or other qualifying dependent so they could work or look for work may qualify for a credit of up to $1,050 for the care of one person or $2,100 for the care of two ore more qualifying persons. Form 2441, Child and Dependent Care Expenses, is used to calculate the amoun of the credit to report on line 18 of your tax return 1040. The form must be attached to the taxpayer's return

Answer 3

Use Form 2441 to get a tax credit of 20% to 35% of expenses based upon income. Maximum credit is 3,000 for one child and 6,000 for two or more children.

Answer 4

You can get a portion of it back, not all of it, if you qualify. You will need the EIN or social security number of your provider to claim the credit.