Eligibility for the Credit
As you might expect, there a number of requirements you must
meet before you can claim any portion of the child and dependent care
tax credit. The requirements are summed up in the checklist that
follows, and described in more detail below.
To claim the
child or dependent care credit, all of the following must apply:
- You must have incurred expenses for the care of at least one qualifying person.
- You must file as single, head of household, qualifying widow(er)
with dependent child, or married filing jointly. If your filing status
is married filing separately, see the exception for a joint return.
- You paid for care so that you (and your spouse if filing jointly)
could work or look for work. However, if you did not find a job and
have no earned income for the year, you
cannot take the credit or the exclusion. But if you or your spouse
was a full-time student or disabled, see work-related
expenses.
- The care provider must be someone that you can't claim as a dependent
and cannot be your spouse, or the parent of your qualifying child.
Also, if your child provided the care, he or she must have been age
19 or older by the end of 2014 and not your dependent. So you have
to be cautious regarding hiring dependents
or household members.
- To claim the expenses you must file IRS Form 2441, Child and
Dependent Care Expenses, and provide information regarding the
qualifying person and identification of the
care provider.
There are a number of other things to consider:
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