Good afternoon, Hopelovedream11!
Thank you for joining us!
You asked "What childcare or dependent expenses are considered tax deductible?"
Childcare or dependent expenses that are considered tax deductible include:
Daycare or babysitting expenses for a child under the age of 13 while you work or look for work.
After-school care programs or summer camps for children under the age of 13.
Caregiver expenses for a dependent relative who is physically or mentally unable to care for themselves.
Expenses related to a disabled child or dependent, including special education costs, medical expenses, and therapy.
Adoption expenses, including legal fees and travel expenses.
Elder care expenses, if the caregiver is a qualified dependent according to IRS rules.
It's important to note that you must have paid for the care so that you could work or look for work. Being a full-time student or a parent unable to care for themselves does count as "working" for the purposes of the credit, even if you don't receive any income for to work or attend.
In addition, expenses for the purposes of this deduction can include the cost of the services of a cook, maid, babysitter, housekeeper, or cleaning person if the services were partly for the care of the qualifying person. You can also include your share of the employment taxes paid on wages for qualifying child and dependent care services. However, expenses for food, lodging, education, clothing, or entertainment are not tax deductible.
See the following information for more details:
Please feel free to reach backout with any additional questions or concerns you might have!
Have a great rest of your day!
Terri Lynn, EA
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