Did you know that cost of summer camp your child attended this summer is deductible?
Day or summer camp fees are deductible, even if it’s a sport camp, as long as care was provided while parents were at work. Check with your camp, because if overnight care or tutoring provided, those camp fees are not deductible.
Per IRS Publication 503 “the credit can be up to 35 percent of your qualifying expenses, depending on your income and you may use up to $3,000 of the reimbursed expenses paid in a year for one qualifying individual or $6,000 for two or more qualifying individuals to figure the credit”.
This credit directly reduces your tax liability thus increasing amount of your refund.
There are a few points that needs to be met in order to deduct summer camp fees:
- You (and your spouse, if you are married filing jointly) must have earned income for the tax year, meaning – parents need to have a paycheck. If one parent is not working, this credit is not allowed
- The child or dependent care service (summer camp ) must have been used so that you could work or look for employment.
- Your filing status must be anything but married filing separately.
- Your child or dependent must be under 13 or must be disabled and physically or mentally incapable of caring for herself.
- The childcare provider cannot be your spouse or dependent or the child’s parent.
And don’t forget to ask for the name, address and tax ID of the facility, your tax professional will need it in order to claim this summer camp fees credit.