However, the costs of summer school and tutoring programs aren’t eligible for the credit. They are treated as education, not care. The other rules for the credit aren’t affected. The child must be under 13, and expenses must be incurred so the parents can work. If your child is over 13 and it’s summer time, then guess who needs to be getting a jobby job so that he can contribute to his Roth IRA??
Remember that summer day camp costs qualify for the dependent care credit. So if you send your school-age child to math camp or any other special day camps this summer, such as those for computers, theater or soccer, don’t forget to write it-off. The same goes for camps that focus on improving reading, writing or study skills.
However, the costs of summer school and tutoring programs aren’t eligible for the credit. They are treated as education, not care. The other rules for the credit aren’t affected. The child must be under 13, and expenses must be incurred so the parents can work. If your child is over 13 and it’s summer time, then guess who needs to be getting a jobby job so that he can contribute to his Roth IRA??
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AuthorThis website was created due to the atrociously misguided financial advice that I've heard over the decades. Financial freedom is not intellectually strenuous, but it takes discipline. Categories
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October 2017
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