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Here is some information on the Child and Dependent Care Credit
The Child and Dependent Care Credit (not to be confused with the similar-sounding Child Tax Credit) can reduce your tax bill if you paid for a dependent's care so that you could work or look for work.
To qualify for this credit, you must meet all of these criteria:
The credit is worth anywhere from 20% to 35% of your qualified expenses, up to $3,000 (for one qualifying person) and $6,000 (for two or more qualifying persons). Your percentage depends on your AGI, with the higher percentages applying to lower incomes and vice-versa.
TurboTax will determine your eligibility and calculate the maximum credit allowed.
What is the difference between Child and dependent care expenses and Child and dependent care credit? I have my daycare's EIN but I can't put it anywhere in this years (2022) taxes. Are they the same this year?
You may qualify for a Child and Dependent Care Credit after you report your child and dependent care expenses. This is found in the Deductions & Credits section under 'You and Your Family', then choose 'Child and Dependent Care Credit' (same as last year).
Or, type 'child care credit' in the Search area, then 'Jump to child care credit'.
Be sure to go through the Child and Other Dependent Tax Credit and Earned Income Credit sections too!
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