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Chid Dependent Care Credit


taxguy057

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Hey Old Wise Ones...

Im trying to file a form 2441 for a client and his spouse. MFJ, AGI: $75,313 Child care expenses $9701.00. My Form 2441 wont calculate the credit amount... Only thing I can figure is they have maxed out somewhere. I was gonna research but got so many other returns to get started on so was hoping for some buddy help on this one :dunno: !

THANKS!!

TG

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Well, of course, you don't mention how many children, but the max per child is $3000. Next limit is the earned income of the lowest earning spouse. Both have to work, or go to school, to qualify at all. Then there is the tax liability limit. And for the form to work, you have to have entered the qualified expense on the tab for line 1 AND line 2. If you did that, the form will work correctly.

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