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2021 child care credit rules
Does anyone have a link to the details for the 2021 child care credit (up to $8K credit for two kids)? It is not available beyond income of $438K. Is that income limit come from the AGI amount?
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The actual law is the best link I have, and that section isn't overly complicated to read.
- For 2021.
- Refundable.
- Can use $8,000 of expenses for 1 kid or $16,000 of expense for 2 or more kids.
- 50% credit for AGI up to $125,000.
- AGI of $125,000 to $185,000 it phases down to 20%.
- AGI $400,000 to $440,000 it phases down to 0%.
https://www.congress.gov/117/bills/hr1319/BILLS-117hr1319enr.pdf#page=156
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