- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
Yes, your Schedule C loss could make you ineligible for the Child and Dependent Care Credit.
The IRS bases the credit on the income of the lowest-earning spouse. If your business loss is more than your wages on W2, your income would be $0. That would limit your credit to $0.
If your business loss is not greater than your wages, check your W2 forms.
As @ColleenD suggests above, check that your W-2s are entered and that they are entered under the correct name.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 24, 2022
8:48 AM