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jellismith25
Level 2

Paid 430.00 in childcare expenses what would my credit be plus can I claim that while I claim my daughter and earned income credit

 
3 Replies
xmasbaby0
Level 15

Paid 430.00 in childcare expenses what would my credit be plus can I claim that while I claim my daughter and earned income credit

There are several child-related credits you *may* get if you have a dependent child.

You might be getting the Child Tax Credit--that is not all a refund--it lowers the tax you owe, up to $2000 per child, but if you do not owe tax then you may not get the full amount of CTC.  In some cases, you could qualify for the "Additional Child Tax Credit" which is a refundable credit, and would increase your refund.  If you qualify for this credit, TurboTax calculates and automatically adds it to your refund.

You might be able to claim the child and dependent care credit if you paid someone to take care of your child so you could work. This is not a refundable credit, so it will not be in your refund.  It can lower the tax you owe.

You might qualify for Earned Income Credit, which is a refundable credit if you worked and earned income. The EIC is based on the amount you earned.  If you do qualify for EIC, TurboTax automatically calculates the amount and adds it to your refund.

 

 

Look at your 2019 Form 1040 to see the child-related credits you received

 

PREVIEW 1040

https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

 

Child Tax Credit line 13a

Credit for Other Dependents line 13a

Earned Income Credit line 18a

Additional Child Tax Credit line 18b

 

https://ttlc.intuit.com/questions/1900923-what-is-the-child-tax-credit

https://ttlc.intuit.com/questions/1900643-what-is-the-child-and-dependent-care-credit

https://ttlc.intuit.com/questions/1899157-what-are-the-qualifications-for-the-earned-income-credit-e...

https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/use-the-eitc-assistant

https://ttlc.intuit.com/questions/4499708-what-is-the-500-credit-for-other-dependents-family-tax-cre...

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
BillM223
Expert Alumni

Paid 430.00 in childcare expenses what would my credit be plus can I claim that while I claim my daughter and earned income credit

1. "what would my credit be"

The answer depends on a number of factors. 

  • Did you have Dependent Care FSA or other reimbursement for dependent care from your employer?
  • What is your Adjusted Gross Income?
  • What is the amount if your calculated income tax?
  • What other credits do you have?
  • Are both you and your spouse (if one) employed or a full-time student or disabled?

In any case, the maximum amount of the credit would be 35% of the $430.00 (or $150.50) and the minimum would be zero. What you might receive is a function of all the factors I list above, so getting anything at all is not guaranteed.

 

2. "can I claim that while I claim my daughter and earned income credit"

Yes, you may still be eligible for the Child and Dependent Care Credit - but the credit is not guaranteed.

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jellismith25
Level 2

Paid 430.00 in childcare expenses what would my credit be plus can I claim that while I claim my daughter and earned income credit

Yeah and yes I see where it helped lower my tax bill to thank you I'm starting to notice this is my first child plus I do rideshare for lyft plus work 2 hha jobs youre right if don't owe of course wouldn't increase definitely understand 

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