The Daily Deduction

Tax Facts - 11/30/2012

 estblog - ChildCredit 

 

For families concerned about the child tax credit and the child and dependent care credit:
 

You can claim both the child tax credit and the child and dependent care credit on the same return if you qualify for both credits.

  • If you qualify for one or both credits, you can claim the credits on Form 1040  (PDF), U.S. Individual Income Tax Return, or Form1040A (PDF), U.S. Individual Income Tax Return. In addition, if you are claiming the dependent care credit, you must complete Form 2441.
  • Refer to "Child tax credit" in the index to the Form1040 Instructions or the Form1040A Instructions. The instructions will explain who qualifies for the child tax credit, and how to calculate it.
  • The Form 2441 Instructions will explain who qualifies for the dependent care credit, and how to calculate it.  

 

[Source:  IRS.gov]

Posted To: The Daily Deduction By: Lauryn on 11/29/2012 10:50:00 AM
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