Question

How much do I have to pay out in a year for childcare to claim it on my taxes?

Forum|Forum|6 years ago
March 16, 2020
1 reply
0 views

I hired a babysitter but part time. How much has to be paid out to a babysitter in order to claim it on taxes? Thank you

Not A Product Question

RobertG

There is no minimum amount, you should go ahead and enter it.

The credit is worth anywhere from 20% to 35% of your qualified expenses, up to $3,000 (for one qualifying person) and $6,000 (for two or more qualifying persons). Your percentage depends on your AGI, with the higher percentages applying to lower incomes and vice-versa.

TurboTax will determine your eligibility and calculate the maximum credit allowed.

You must furnish the care provider's name, address, and (unless it's a tax-exempt organization) their SSN, ITIN, or EIN on your return.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"