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ST LOUIS — Did you know there might be a tax benefit for sending the kids to day camp this summer?
“If you pay someone to care for a child, spouse, or dependent, you may be able to claim the Child and Dependent Care Credit on your federal income tax return,” said IRS spokesman Michael Devine. “The credit is available for expenses incurred so you – and your spouse if you are married filing jointly – could work or look for work.”
Devine said the amount of the credit depends on your income but can be as much as 35 percent of your non-reimbursed expenses. Generally, you can use up to $3,000 of the unreimbursed expenses paid in a year for one qualifying individual or $6,000 for two or more qualifying individuals to figure the credit.
A qualifying person is your dependent child age 12 or younger when the care was provided. Additionally, your spouse and certain other individuals who are physically or mentally incapable of self-care may also be qualifying persons. You must identify each qualifying person on your tax return.
Expenses for overnight camps do not qualify, but it’s OK if the day camp specializes in a particular activity, such as computers or soccer.
If your childcare provider is a sitter at your home or a daycare facility outside the home, you’ll get some tax benefit if you qualify for the credit.
For more information, see IRS Publication 503, Child and Dependent Care Expenses on the IRS.gov web site, or by calling 800-TAX-FORM (800-829-3676).