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?

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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?

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

How many children do you have?

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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?

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.

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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?

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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?

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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?

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