Everdraft™ - Get instant cash
Send Money, Pay Later™
Free Tax Filing - Federal & State 
Your BFF - The Better Financial Feed™
Cashbacks up to 20%
Credit - Monitor & Grow
Identity Theft Protection
Affordable Car Insurance
The Child and Dependent Care Credit is a credit that may help you with paid expenses for the care of a qualifying dependent if those expenses were done to enable you (and your spouse, if filing a joint return) going to work, actively looking for work, or going to school.
In order to qualify for the credit, one of the following requirements must be met:
Dependent was under age 13 when the care was provided
Your spouse who was physically or mentally incapable of self-care and lived with you for more than half of the year
An individual who was physically or mentally incapable of self-care, lived with you for more than half of the year, and either: (a) was your dependent; or (b) could have been your dependent except that he or she received gross income of $4,700 or more, or filed a joint return, or you (or your spouse, if filing jointly) could have been claimed as a dependent on another taxpayer's 2023 return.
Credit is limited to $3,000 for one qualifying dependent or $6,000 for two or more qualifying dependents.
You can read more about this credit and its requirements, per the IRS, here.
This content is provided for informational purposes only and should not be construed as tax, legal, financial, accounting, or other advice. Rules and regulations vary by location and are subject to change, so please consult with an expert if you need advice specific to you.
Any third-party links are provided for informational purposes only. The third parties and their sites are not endorsed by Beem and Beem is not responsible for, and has no control over, their content, privacy policies, or terms of service.
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article