in [Event] Ask the Experts: Biz Recordkeeping & 1099-NEC Filing
I want to claim the credit for child and dependent care expenses (2441 form), However, I read an article here: https://finance.zacks.com/itemize-childcare-deduction-4600.html and it states "If you intend to claim the Child and Dependent Care credit, you will need to itemize your deductions, per IRS regulations" I really need to itemize my deduction? Or it is ok to use standard deduction for claiming this credit? Thanks
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No, you do not have to itemized to take the dependent care credit. You can claim the credit (if you qualify) and use the Standard Deduction.
No, you do not have to itemized to take the dependent care credit. You can claim the credit (if you qualify) and use the Standard Deduction.
If that's what the article says, it is incorrect. The child and dependent care credit is separate from whether you take the standard deduction or itemize.
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