Daycare expenses for one child are $17,000, but the other child was born in late 2017 so has no daycare expenses. Receipts have only been entered for one child but Turbotax is claiming $16,000 ($8,000 per child) in child care expenses. That doesn't seem correct but i don't see any option to change this?
The maximum allowed amount for childcare expenses is based on the number of qualifying children in the family irrespective of whether or not any childcare was paid for all of the children. The software will correctly calculate the allowed deduction based on the ages of the dependents included on the tax return.
Having a larger family will increase the over all allowed deduction for childcare even if only one child has expenses.
The maximum allowed amount for childcare expenses is based on the number of qualifying children in the family irrespective of whether or not any childcare was paid for all of the children. The software will correctly calculate the allowed deduction based on the ages of the dependents included on the tax return.
Having a larger family will increase the over all allowed deduction for childcare even if only one child has expenses.
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