Camping Out for a Tax Credit

Do you have a child younger than 13 whom you are planning to send to day camp this summer? The cost may qualify for the dependent care credit if it enables you (and your spouse, if married) to be gainfully employed. The credit is generally equal to 20% of the first $3,000 of qualified expenses for one child or $6,000 for two or more children.

 

What’s more, this tax break is also available for the cost of a specialty camp such as ones for athletes or children with other talents. But the cost of an overnight camp does not qualify.

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