Taxpayer has child care expens of 5250.00. Dependent care benefits paid on w-2 of 5000.00. Expense apply to only one child. Can taxpayer take the 250.00 childcare expense ( x % amount) Or because it is over 3000.00 limit for one child do they not qualify to take the 250. and then have no credit on tax return .
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As you work through Form 2441 to exclude his benefits, you'll see that he can get no additional credit on his return with over $3,000 in benefits. That's why it was wiser to get the employer excluded DCB than the credit on his tax return. -
How many "qualifying persons" does the taxpayers have? If more than one, you could use the $250 to get Child Care Credit, even if only one qualifying person had expenses.
See Pub 503, p. 11 - http://www.irs.gov/pub/irs-pdf/p503.pdf
or the Form 2441 instructions, p. 3- http://www.irs.gov/pub/irs-pdf/i2441.pdfComment
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another child
Taxpayer has one additional child, but he is 15. I don't think it will work for that one.?.Comment
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