SusanY1
Expert Alumni

Deductions & credits

Was your wife's only income this year from her new business?  If so, check to be sure she has net profit in that business, or it won't count as her having "earned income" for purposes of the dependent care credit.  If she has more expenses than she had income, showing a loss or a $0, then you won't be eligible for this credit this year.  

Return to the Income section and look at the 2024 column for "Business Income and Expenses (Sch C)".

 

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