IL childcare tax credit

adelas82

Is there one?  I'm guessing it would be on a sliding scale according to income if there is one but I'm just curious.  Is there any tax benefit when you have a child in the state of IL?

 

smerka

If you mean on IL taxes, then no, there isn't a benefit for paying childcare expenses.  For federal, yes, but you have to be using the childcare to go to work.  The only benefits to having a child for your IL taxes that I can think of off the top of my head would be the extra $2,000 exemption, deduction for paying more than $250 to enroll your child(ren) in school, 529 college savings benefits, and earned income tax credit.  On the federal side there are lots of tax credits/deductions.