Child And Dependent Care Credit

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Dictionary Says

Definition of 'Child And Dependent Care Credit'

A non-refundable tax credit for unreimbursed childcare expenses paid by working taxpayers. The Child and Dependent Care Credit is designed to encourage taxpayers to pay childcare expenses so that they can remain gainfully employed.

The Child and Dependent Care Credit is claimed on Form 2441 for taxpayers that are filing Form 1040, or Schedule 2 for Form 1040A. 
Investopedia Says

Investopedia explains 'Child And Dependent Care Credit'

The taxpayer, the care provider, the dependent/dependents must all meet certain requirements in order for the taxpayer to qualify for the credit. The Child and Dependent Care Credit is limited to a range of 20% to 35% of $3,000 for one qualifying child or dependent under age 13 or $6,000 for two or more qualifying persons, depending on the taxpayer's Adjusted Gross Income.

For more information, see IRS instructions for Form 2441.
Search results for

'Child And Dependent Care Credit'

  • How To Claim A Dependent On Your Tax Return

    http://www.investopedia.com/articles/tax/09/claim-a-dependent.asp
    ... liability. Dependents can also be used to gain tax benefits like the child and
    dependent care credit and head of household filing status. ...

  • Benefits Of A Dependent Care Flexible Spending Account

    http://www.investopedia.com/articles/pf/09/dependent-care-fsa.asp
    ... expenses. Before setting up a dependent care FSA, compare its potential tax
    benefits with the child and dependent care tax credit. FSAs ...

  • 5 Ways To Save On Child Care Costs

    http://www.investopedia.com/articles/pf/09/daycare-saving-tips.asp
    ... already taking advantage of your employer's flexible spending account, you can't
    claim the same expenses for the FSA and for the child and dependent care credit ...

  • Give Your Taxes Some Credit

    http://www.investopedia.com/articles/tax/08/tax-credit.asp
    ... are met. To see the full list of conditions, see the child and dependent
    care credit page on the IRS website. Retirement Saving ...

  • How can I use a child tax credit?

    http://www.investopedia.com/ask/answers/07/taxtipchild.asp
    ... It can be claimed on 1040 and 1040A. It is in addition to the credit for child
    and dependent care expenses, and the earned income credit. ...

  • Keep Working Or Stay At Home With The Kids?

    http://www.investopedia.com/articles/pf/07/cut_an_income.asp
    ... Childcare Tax Benefits Flexible spending (dependent-care) accounts offered by many ...
    Even without such accounts, the federal child-care credit can save (per child ...

  • Taxing Times For Divorced Parents

    http://www.investopedia.com/articles/pf/08/dependent-tax-credits.asp
    ... the parent that can claim the dependency exemptions will also receive the corresponding
    tax credits, such as the child and dependent care tax credit and earned ...

  • New Baby, New Tax Break - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0110/New-Baby-New-Tax-Break.aspx
    ... your income and the cost of your child care expenses ... Dependent A new baby claimed
    as a dependent will garner ... Just like the child tax credit, the full exemption ...

  • Budgeting For A New Baby

    http://www.investopedia.com/articles/pf/08/budgeting-for-baby.asp
    ... caregivers. (If you are eligible, some costs might be offset by various
    tax credits, such as the child and dependent care credit. ...

  • Happily Married? File Taxes Separately!

    http://www.investopedia.com/articles/tax/08/file-seperately.asp
    ... who file jointly, such as: Earned income credit; Child tax credit; Child
    and dependent care credit; Student loan interest deduction; ...

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