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Deductions & credits
@jarealio Sorry---you misunderstood the rules...and the rules changed from 2021 returns to 2022---so no surprise there. You get a total of $6000 toward the credit IF YOU HAVE TWO CHILDREN. You got $5000 of "pre-tax" money by paying from your FSA account. You do not get another $5000 of childcare credit for childcare. If you only have one child you already got the $3000 of untaxed money for childcare. If you have two kids, you get another $1000 of the credit---that's it. The childcare credit can only reduce your tax owed----it is not refundable.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
‎February 20, 2023
8:04 AM