Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Apr 12, 2024 11:58:00 AM

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?

0 2 1103
2 Replies
Expert Alumni
Apr 12, 2024 12:00:11 PM

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

 

How many children do you have?

Level 15
Apr 12, 2024 2:35:44 PM

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.