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Deductions & credits
@vividalchemist wrote:According to the help center and the IRS website, the deduction is:
- The credit is from 20% to 35% of your child care expenses, depending on your adjusted gross income (AGI). You can claim a credit for up to $3,000 in expenses for one child, or up to $6,000 in expenses for two or more children.
You are allowed to claim up to $6,000 of expenses. At your income, you qualify for a 20% credit. So 20% of $6,000 is a $1200 credit.
‎January 31, 2020
7:00 PM