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Childcare Tax Credit Question
Hello,
I am using the refund and return calculator and have a question. For the first time ever, I had the max $5,000 deducted from my paychecks to use on dependent care this year. We ended up spending a total of around $15,000 total in daycare this year, which I'm entering into the total child care expenses column. My question is involving the "how much child-care reimbursement was received in 2022" question. Is that referring to the dependent care program, to which I would then enter the $5,000 figure, or is that in relation to something else (such as a daycare stipend from your employer?). The reason I ask is because putting in the $5,000 increases the amount of taxes I owe by $1,000.
Thanks!
Topics:
‎December 20, 2022
12:33 PM