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Day Care Costs Enter your day care costs, per year. We assume that the full day care cost you enter here qualifies toward the child care tax credit, up to the legal maximum of $2,400 for one child, or $4,800 for two or more children. Note: This legal maximum is increased to $3,000 for one child or $6,000 for two or more children, under the 2001 tax act, but only for the years 2003 through 2010. This is different than the "Child Credit," which this Calculator calculates automatically (click here for more about the Child Credit). It is also different than the dependency exemption for the child (which this Calculator also calculates automatically). Click here to see whether you qualify to claim the child care credit. If you don't qualify to claim the child care credit, enter your child care expenses as part of "Other Expenses."
Disclaimer: We are not giving legal advice. No warranties. We disclaim all legal liability. More...
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