All these activities I’m sending my kids to this summer are getting expensive. Can’t I catch a break somehow? Can I get a bailout?
No, but you might qualify for a tax break.
Working parents who must find someone to care for their children during summer vacation may be able to use the cost of summer day camp to qualify for a federal tax credit, said Michael Devine, a regional spokesman for the IRS. Overnight camps do not qualify, but day camps that specialize in a particular activity — such as computers or soccer — do.
“The Child and Dependent Care Credit is for expenses incurred to care for a child, spouse or dependent, so you, and your spouse if you are married filing jointly, could work or look for work,” Devine said.
Up to $3,000 of unreimbursed expenses paid for one qualifying individual or $6,000 for two or more qualifying individuals can be used to figure the credit, he said. A qualifying person is a dependent child, age 12 or younger when the care was provided.
For more information, see IRS Publication 503, Child and Dependent Care Expenses, available at IRS.gov or by calling (800) 829-3676.