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what is the maximum amount of expenses on which the child and dependent care credit is based for tax year 2022?

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DevanshChh

One kid or dependent, or up to $3,000 in qualified costs (for a maximum credit of $1,050). For dependents who are two or more, the maximum credit is $2,100 and up to $6,000 of qualifying.

What is Child and Dependent Care Credit for 2022?

Many parents who pay for childcare might receive a tax reduction thanks to the Child and Dependent Care Credit. Taxpayers who were full-time students or who were unemployed for a portion of the year may also qualify for the credit, despite the fact that it is intended for working parents or guardians. You might be eligible for a tax credit on your 2022 taxes of up to 35% of the following if you paid a daycare center, babysitter, summer camp, or other care provider to look after a qualifying dependent under the age of 13 or a dependent who is disabled of any age:

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