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[quote=Anonymous][quote=Anonymous][quote=Anonymous]OP, if you used a pre-tax savings account for childcare expenses, you can't use the tax credit being discussed.  It's one or the other.  If you have the option to use a pre-tax savings account in the future, it would probably save you more money than the tax credit at your income level.[/quote]

This is not 100% correct.  [u]You cannot claim the same expenses for both, but since most people in this area end up paying more than $5k for child care, it often works out that you can fully fund your FSA and also get some of the credit as well.[/u]  We have two in child care, fully fund our FSA and we still get a decent credit.  And we are pretty high-earning so we are phased to the lesser amount of the credit.  I'd have to go back through the Turbo Tax section on it, but I think it really helps that we have 2 kids.[/quote]

Are you sure about the underlined part?  I think it's one or the other.  See the "Randall" example on page 11 of this IRS publication: http://www.irs.gov/pub/irs-pdf/p503.pdf[/quote]

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