Solved: My hubby and I are filing jointly. I work as a self-employed, he is an employee. Can we deduct part of the cost of our children who go to preschool? If yes, how?
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My hubby and I are filing jointly. I work as a self-employed, he is an employee. Can we deduct part of the cost of our children who go to preschool? If yes, how?

 
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Employee Tax Expert

My hubby and I are filing jointly. I work as a self-employed, he is an employee. Can we deduct part of the cost of our children who go to preschool? If yes, how?

It depends, but probably.  The key is whether or not you have income.  If your self-employment is a loss, the Child and Dependent Care credit will not calculate. This FAQ provides information on the credit itself:  https://ttlc.intuit.com/replies/3301418

Also, please note this FAQ on how you can enter this information into TurboTax: https://ttlc.intuit.com/replies/4395614

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Employee Tax Expert

My hubby and I are filing jointly. I work as a self-employed, he is an employee. Can we deduct part of the cost of our children who go to preschool? If yes, how?

It depends, but probably.  The key is whether or not you have income.  If your self-employment is a loss, the Child and Dependent Care credit will not calculate. This FAQ provides information on the credit itself:  https://ttlc.intuit.com/replies/3301418

Also, please note this FAQ on how you can enter this information into TurboTax: https://ttlc.intuit.com/replies/4395614

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

View solution in original post

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