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TAX QUESTION: Does anyone know how much you have to spend on childcare in order to use the expense as a credit toward your taxes?

Last I knew it was $7000.00 for the year....

 
kimberlyinberea

Asked by kimberlyinberea at 7:00 PM on Jan. 31, 2011 in Money & Work

Level 29 (39,262 Credits)
This question is closed.
Answers (3)
  • For me, It only takes up to $3000 for the credit. If you spend OVER $3000, it doesn't matter, they will only apply the $3000 toward the expense credit.
    This can also only be used if you go to a licensed child care with a tax ID number. I
    layh41407

    Answer by layh41407 at 7:12 PM on Jan. 31, 2011

  • Last year I claimed over $5000 in childcare. This year I claimed $2700, for I used less care. My DCP provides me with atax ID number too.

    KairisMama

    Answer by KairisMama at 8:25 PM on Jan. 31, 2011

  • You could claim anywhere from $1 to $3000 per child.
    Candi1024

    Answer by Candi1024 at 10:03 AM on Feb. 1, 2011