Child and Dependent Care Credit

If you are choosing the Child and Dependent Care Credit, use the following worksheet and percentage table to calculate the credit. The percentages are based on your Iowa taxable income on line 4. You must include a copy of your completed federal form 2441. This credit may only be claimed for expenses actually paid by the taxpayer.

Child and Dependent Care Credit Worksheet Child and Dependent Care Credit Worksheet 1. Enter the amount from federal form 2441, line 9c 1.________ 2. If IA 1040, line 4 is: Less than $10,000 enter 75% $10,000 - $19,999 enter 65% $20,000 - $24,999 enter 55% $25,000 - $34,999 enter 50% $35,000 - $39,999 enter 40% $40,000 - $89,999 enter 30% $90,000 and over: not eligible for credit (0%) Enter the appropriate percent here. 2.________% 3. Multiply line 1 by percentage on line 2. Enter the result here and on the IA 1040, line 24. 3.________