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Money and Finances
Reply to "Tax help-please educate me"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Yes, you can write it off. Get the tax ID # from the preschool. Our kids went to a very part-time preschool and it had a # set up.[/quote] It is not a business expense. It does qualify for the Child and Dependent Care Tax Credit, which is a share of $3000, depending on income. [/quote] So what does this mean? Please explain. This is what i am reading but i dont know how this translates. Or will Turbotax figure it out for me if i just input how much we pay the preschool?[/quote] Go to the section on the child and dependent care credit and follow the directions. That's the credit you are talking about - the tax id number for the school is on their website. "Write it off" means take it as a business expense, which is not correct and not what you are looking to do. Turbo tax will walk you through and you will write down your expenses and the id info for the provider. Then turbo tax will do the math. [/quote]
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