Tax Credit for Child and Dependent Care Expenses

The IRS published a list of 10 Tips that outline the rules and reporting requirements for anyone who may have child care expenses. The most important of the 10 are that the credit is for expenses that enable a taxpayer and spouse (if married filing jointly) to work. Both spouses must have earned income unless one is a full-time student or were physically or mentally unable to care for themselves.

Use Form 2441 to report the information and claim the credit.

More information can be found in Publication 503.