Daycare and Taxes

What information do I need from my daycare to be able to use it for my taxes? Thanks!

Re: Daycare and Taxes

There's a form they give you, i *think* it's a W-10 form.

mY daycare didn't have it, so I had them print up exactly what i paid and put their taxpayer ID# on it.

I use Turbo tax, so all i needed was the taxpayer id# and amount, the IRS will check them out to make sure they are reporting income.

You get 20% back on your total amount paid for daycare if you had to use daycare in order for you to work.

Re: Daycare and Taxes

I used the Year-End invoice with their tax payer id on it too.

Re: Daycare and Taxes

Posted by sweetness

There's a form they give you, i *think* it's a W-10 form.

mY daycare didn't have it, so I had them print up exactly what i paid and put their taxpayer ID# on it.

I use Turbo tax, so all i needed was the taxpayer id# and amount, the IRS will check them out to make sure they are reporting income.

You get 20% back on your total amount paid for daycare if you had to use daycare in order for you to work.

Re: Daycare and Taxes

Mine is taken out of my paycheck so it is on my W-2. It is $5,000 as it is pre-taxed to $5,000. I then claim the rest of the taxed amount.

Re: Daycare and Taxes

You only need the Federal ID and the amount that you paid. Have back up (cancelled) check just in case you are audited. In NY you can only deduct up to $4600 a year. That's good but not the 12-15 that some people pay per year per kid.

Good luck.
Carol