What is the Child and Dependent Care Credit?
An example of an AI chatbot conversation about the Child and Dependent Care Credit details.
What is the Child and Dependent Care Credit?
The Child and Dependent Care Credit helps families offset the costs of childcare for children under 13 or dependents.
Who qualifies for this credit?
To qualify, you must have earned income and pay for care for a child or dependent while you work or look for work.
How much can I claim?
You can claim up to 35% of qualifying expenses, depending on your income, with a maximum of $3,000 for one child or $6,000 for two or more.
Are there any specific expenses that qualify?
Yes, qualifying expenses include daycare, babysitters, and certain camps, but not schooling or overnight care.
How do I apply for this credit?
You apply for the credit by filling out Form 2441 and attaching it to your tax return.
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