@sm3 wrote:
1) Can I claim "Child Tax Credit" (usually around $2000 per child) and also use "Child and Dependent Care Tax Credit" ?
Yes, you can claim both credits for the same child, if you meet the requirements for each credit. The two credits are independent.
However, school tuition for kindergarten and up is not child care and is not eligible for the child and dependent care credit.
@sm3 wrote:
2) Let's say if I can only take advantage of one of above then can I use CTC for one kid and "Child and Dependent Care Tax Credit" for other kid?
Not applicable, because you can claim both credits for the same child.
@sm3 wrote:
3) Is it advisable to use DCFSA to pay for school expense or take "Child and Dependent Care Tax Credit" in tax return?
A dependent care FSA, if you have one available from your employer, usually works out better than the dependent care credit.
Note that the rules for 2022 are up in the air right now. Both credits were increased for 2021. Whether those increases will be extended to 2022 or later is currently being debated in Congress.
