Child Care Tax Credit?

Question

What is child care tax credit, and how do I qualify for it?

Answer 1

The child care tax credit only applies if the child care is to allow both parents to work. While there are different rules for unmarried parents, your other question says that your fiance won't be working, and since you'll be married by the end of the year, the rules for married parents would apply.

If she's working now, then child care for your older child could be eligible for the credit while your fiance is working.

Answer 2

If he's claiming his toddler on his taxes, then you shouldn't signup for something at paintings. at the start, the toddler care price is going with the toddler. via fact you're no longer claiming the toddler, you will get NO earnings in case you attempt to do a based Day Care as pre-tax because it's going to be further back on your earnings on the top of the 365 days.

Answer 3

As was previously answered, it's childcare, etc. But beware. To claim the credit you have to provide a SSN of the caretaker, and that person will have to claim the money you paid them as income.

Uncle Sam gets his share, no matter what.

Answer 4

You qualify if you have paid for childcare services for a dependent you are claiming on your return. (i.e. you paid the babysitter).