ErnieS0
Expert Alumni

Deductions & credits

The IRS considers you to have a daycare business if you provided child care in your home. It does not matter whether or not you have an employee identification number.

 

You will have to give your Social Security number to your clients so they can claim a child care credit on their income tax returns.

 

Report all your income as self-employment income on your taxes. You can use TurboTax Self-Employed to do this. You can deduct expenses, including expenses of using home to provide care.

 

Learn about deducting home expenses in IRS Publication 587 under Daycare Facility.

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