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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProConnect Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProConnect Hot Topics.
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- Credit for Child or Dependent Care
Credit for Child or Dependent Care
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JaxSimpleMultis
Level 1
04-25-2024
08:57 PM
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Credit for Child or Dependent Care Expenses in the amount of $1,050 was disallowed due to tax liability limitations. US - Ref #730
Why is this credit disallowed?
client made 17000 self employed (head of household) and 600+ in w-2, care expenses were a total of $6600 for 1 dependent.
3 Comments 3
TaxGuyBill
Level 15
04-25-2024
11:22 PM
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Have you looked at line 10 of Form 2441?
BobKamman
Level 15
04-26-2024
08:17 AM
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When income tax is zero, the credit is zero. What may be distracting you from this inconvenient truth is that the client is paying tax -- but it's only SE tax, not income tax.
