The following is primarily summarized from IRS Publication 503 (2022): Child and Dependent Care Expenses (https://www.irs.gov/publications/p503) and Tax Topic – 602: Child and Dependent Care Credit (https://www.irs.gov/newsroom/child-and-dependent-care-credit-faqs) posted on the Internal Revenue Service (IRS) website.
WHAT IS THE CHILD AND DEPENDENT CARE CREDIT?
The Child and Dependent Care Credit is a tax credit for single individuals or married couples who have incurred child or dependent care expenses in caring for qualified children, dependents or spouses while working or looking for work. People who qualify for the credit are allowed up to $3,000 of care for one dependent or $6,000 of care expenses for two or more qualifying dependents. The credit can be up to 35% of your qualifying expenses depending upon your adjusted gross income; and along with Form 1040. The Child and Dependent Care Credit is a nonrefundable credit, which can reduce the amount of income taxes owed.
WHO IS ELIGIBLE FOR THE CHILD AND DEPENDENT CARE CREDIT?
To be eligible for the credit, single or married people:
Individuals who qualify to be claimed for the credit are:
For further information, see IRS Publication 503: Child and Dependent Care Expenses at the IRS website: 2023 Publication 503 (irs.gov)
FILING FOR A CHILD AND DEPENDENT CARE CREDIT
The Child and Dependent Care credit can be claimed by filing Form 1040.
FORMS TO BRING TO A TAX ASSISTANCE SITE
When visiting a Connecticut Tax-Aide Assistance or VITA (Volunteer Income Tax Assistance) site, bring the following:
TO FIND PROVIDERS IN CONNECTICUT’S COMMUNITY RESOURCES DATABASE:
SOURCES: 2-1-1 database; Tax Topic 602: Child and Dependent Care Credit posted on the Internal Revenue Service website
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CONTENT LAST REVIEWED: January2024