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Child and dependent care credit, for Owner/operator self-employed

I started my own business in 2019 but the program is not letting me claim the child and dependent care credit? I have earned income but my expenses outweigh the income?
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1 Reply
rjs
Level 15
Level 15

Child and dependent care credit, for Owner/operator self-employed


@colin-c-four wrote:
I have earned income but my expenses outweigh the income?

That's why you can't claim the child and dependent care credit. Your earned income for the credit is your net business income, after subtracting expenses. If your business expenses are more than your business income, then you have a business loss, and you have no earned income from the business.

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