TAX BREAK FOR SUMMER CAMP

21 Jun TAX BREAK FOR SUMMER CAMP

Posted at 13:07h in News by

Send the kids to camp.  If your child goes to day camp this summer while you and your spouse work, the cost may qualify for the dependent care credit. The maximum credit is usually $600 for one child and $1,200 for two or more children. NOTE that this tax break also applies to specialty camps geared to a specific activity like soccer or computer science. Things to be aware of:

  1. Child must be under 13 and a qualifying child on your tax return.
  2. Overnight camps and summer school and tutoring programs do not qualify.
  3. Both parents must work.
  4. You must identify the organization that provides the camp. You will need to report the name, address, and taxpayer identification number of the care provider on your return. If the care provider is a tax-exempt organization, you need only report the name and address of the organization.
  5. Special rules apply to divorced/separated parents. Please contact your accountant.