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The child and dependent care credit is a tax credit that may help you pay for the care of eligible children and other dependents (qualifying persons). The credit is calculated based on your income and a percentage of expenses that you incur for the care of qualifying persons to enable you to go to work, look for work, or attend school.
The child and dependent care tax credit is a tax break for working people with qualifying dependents. It can help to offset the costs of caregiving expenses.
You may be able to claim the child and dependent care credit if you paid expenses for the care of a qualifying individual to enable you (and your spouse, if filing a joint return) to work or actively look for work.
Find out if you are eligible to claim the Child and Dependent Care credit. Who qualifies you for the credit? A qualifying person generally is a dependent under the age of 13, a spouse or dependent of any age who is incapable of self-care and who lives with you for more than half of the year.
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.
Your eligibility to claim the child and dependent care credit will depend on the amount you paid to care for a qualifying child, spouse, or other dependent. Find out how the child and dependent care credit works, if you qualify, and how to report the claim on your tax return.
Take advantage of the 2021 child care credit and receive a refundable tax credit of up to $8,000. This tax season, an often overlooked tax credit could put up to $8,000 back in families’...