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Old 07-21-2008, 11:12 PM
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Does cost of day camp count as a qualified exp towards child & dependent care credit?

Well, the good news is that "the cost of day camp can count as an expense towards the child and dependent care credit." However, per the IRS, the expenses for overnight camps do not qualify.

The actual tax credit is in the range of 20% to 35% of non-reimbursed expenses. Taxpayers can claim qualified expenses of up to $3000 for one child and up to $6000 for two or more children. The actual tax credit is also based on your income. The 35% rate applies if your income is under $15,000; the 20% rate, if your income is over $43,000.
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