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Tax Question- daycare costs
Posted on 2/13/16 at 10:56 am
Posted on 2/13/16 at 10:56 am
Most daycares charge a flat rate but the one I use separates out lunch cost. Is the lunch cost still deductible the same as daycare costs?
Posted on 2/13/16 at 12:14 pm to LSU1018
My understanding is that food is not deductible.
Posted on 2/13/16 at 4:03 pm to LSU1018
I just use the total yearly daycare amount and ignore the statement breakdown that separates everything....
If you are using full-time daycare you most likely will hit the max deduction regardless of food cost.
If you are using full-time daycare you most likely will hit the max deduction regardless of food cost.
Posted on 2/13/16 at 6:21 pm to bodsworth
quote:
If you are using full-time daycare you most likely will hit the max deduction regardless of food cost.
I agree. Adding the food cost wouldn't benefit you.
Posted on 2/13/16 at 6:39 pm to MikeBRLA
I'm not sure how it would matter if you're paying for full time daycare. Your total daycare bill should get you to the max credit amount easily regardless of whether or not lunches are figured in, likewise your total amount will easily surpass the max allowable allocation to a pretax daycare spending account.
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