Hi, I'm Arye from TurboTax. Are you a parent who pays for child care? Then you could qualify for as much as 35% of your child care expenses up to $3,000 for one dependent and up to $6,000 of expenses for two or more.
To qualify for the Child and Dependent Care Credit, a qualifying person is any child under age 13 who lived with you for more than six months of the tax year and was your dependent.
There are special considerations for married, divorced and separated individuals which you can learn more about on Turbotax.com
The Child and Dependent Care Credit can provide between 20 and 35% of your child-care costs, depending on your income.
You can also claim costs that cover household services, like housekeeping, if the services were necessary in part for the child care.
You are only eligible for this credit while you are working or looking for work. If you work part-time, you can only claim the part of the day you worked or looked for work.
In addition, you can’t deduct payments made to a spouse or to a dependent as child care expenses.
For more information about this and other tax topics, visit TurboTax.com.