What is the child care credit amount this year and how does that work?

ANSWER

The BIDaWIZ Team's Answer:

See IRC 21. The child care credit is computed on Form 2441, of your Form 1040.

To be eligible, you must incur employment related daycare expenses for a dependent

child. The child must be under age 13, or disabled, to qualify. The maximum credit equals $3K, for one child,

and $6K, for two, or more, children. However, the credit is decreased, as your taxable income

increases.