I have a 3-year-old son who attends daycare. What is the maximum amount of childcare expenses I can claim?
The maximum amount you can claim is the lesser of: – total child care expenses paid -$7,000 – two-thirds of your earned income The maximum amount is reduced from $7,000 to $4,000 for children between the ages of seven and sixteen. For children with a disability (regardless of age), the amount is increased to $10,000.
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