In 2023 I paid mor than 15K in daycare - but my deduction is only for $600 - should be more? 20% with a maximum of $3K?

posted

It sounds like you might have Dependent Care Benefits in box 10 of your W2.

How many children do you have?

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

You can use up to $3000 of expenses (for one child). That means you are using $3000 of expenses, multiplied by 20%, which is $600. Everything sounds correct.

How could I have $4,976 in 2023 capital loss carryover plus $3,786.58 in 2024 capital losses, take the $3,000 maximum deduction and only have a $5,474 carryover for 2025?

in Investors & landlords

Expert does your taxes

Do it yourself

Resources

Support

In 2023 I paid mor than 15K in daycare - but my deduction is only for $600 - should be more? 20% with a maximum of $3K?

In 2023 I paid mor than 15K in daycare - but my deduction is only for $600 - should be more? 20% with a maximum of $3K?

In 2023 I paid mor than 15K in daycare - but my deduction is only for $600 - should be more? 20% with a maximum of $3K?

Get more help

Do you have a TurboTax Online account?

In 2023 I paid mor than 15K in daycare - but my deduction is only for $600 - should be more? 20% with a maximum of $3K?

Do you have an Intuit account?

In 2023 I paid mor than 15K in daycare - but my deduction is only for $600 - should be more? 20% with a maximum of $3K?

In 2023 I paid mor than 15K in daycare - but my deduction is only for $600 - should be more? 20% with a maximum of $3K?

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert