taxes
 

 taxes







 

Question by  Santina (2)

My child goes to preschool not daycare and I do work part-time would that be tax deductible if so what form would I use?

 
+6

Answer by  tamarawilhite (17883)

Preschool counts as daycare for tax deductibility. You can seek reimbursement from a dependent care reimbursement account. If you didn't have this pre-tax account, then you can claim the child care tax credit on Form 2441.

 
+6

Answer by  Att4372 (1704)

Use form 2441, Dependent Care Benefits. The benefit is a credit, not a deduction. You get a credit for a percentage of your expenses. You get a direct reduction in taxes for expenses paid. The preschool must have a tax ID number or be a nonprofit.

 
+6

Answer by  technogeek (6640)

If you are paying for pre-school, you are able to deduct the costs on your Federal Tax Return. Be sure that you get the Tax ID Number from the center.

 
+5

Answer by  tamarawilhite (17883)

You can claim the child car tax deduction up to the limit based on your income, assuming the child care provider has a Taxpayer Identification Number.

 
+5

Answer by  patti (29325)

The law with regard to tax deductions changes regularly, so consult with a tax professional, who can verify the exact amount of the allowable deduction and file the correct forms for the maximum allowed.

 
+4

Answer by  tamarawilhite (17883)

Preschool is still a legally deductible childcare cost if you work. You can use the Child and Dependent Care Credit on your tax form.

 
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