Greta
Level 9
06-02-2021
03:43 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Does anyone have a link to the details for the 2021 child care credit (up to $8K credit for two kids)? It is not available beyond income of $438K. Is that income limit come from the AGI amount?
Solved! Go to Solution.
Labels
dkh
Level 15
06-02-2021
04:05 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
TaxGuyBill
Level 15
06-02-2021
04:07 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
The actual law is the best link I have, and that section isn't overly complicated to read.
- For 2021.
- Refundable.
- Can use $8,000 of expenses for 1 kid or $16,000 of expense for 2 or more kids.
- 50% credit for AGI up to $125,000.
- AGI of $125,000 to $185,000 it phases down to 20%.
- AGI $400,000 to $440,000 it phases down to 0%.
https://www.congress.gov/117/bills/hr1319/BILLS-117hr1319enr.pdf#page=156