Schedule M1cd - Child And Dependent Care Credit - 2012 Page 3
Download a blank fillable Schedule M1cd - Child And Dependent Care Credit - 2012 in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Schedule M1cd - Child And Dependent Care Credit - 2012 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
3
4Schedule M1CD Instructions 2012
Child and Dependent Care Credit
Penalty for Fraudulently
Who is Eligible?
Qualified Expenses
If you paid someone to care for your child
Qualified expenses are amounts paid for
Claiming a Refund
or other qualifying person so that you (and
household services and care of the qualify-
If you file a return that fraudulently claims a
your spouse, if filing a joint return) could
ing person while you (and your spouse, if
credit, you will be assessed a penalty equal to
work or look for work, you may be eligible
filing a joint return) worked or looked for
50 percent of the fraudulently claimed credit.
for a credit based on your qualified ex-
work. The person who provided the care
penses. You must have had earned income
could not be your spouse or a person you
You Must Have Proof
to take this credit.
can claim as a dependent. If your child
Save canceled checks and/or keep a detailed
provided the care, he or she must have been
Qualified expenses and qualifying person
record of your payments for child and
age 19 or older.
are the same as for the federal credit for
dependent care expenses. The department
child and dependent care expenses. Excep-
may ask you to show such records if there
The expenses are the same as those that
tions: See If Your Child was Born in 2012
is any question concerning your Child and
qualify for the federal credit for child and
(on this page) and Operators of Licensed
Dependent Care Credit.
dependent care expenses. Payments made
Family Day Care Homes (on the next page).
for you by another person or agency do not
If Your Child was Born in 2012
To qualify for the credit, all of the following
qualify.
statements must be true:
A married couple filing a joint return and
Exceptions:
having a child born in 2012 may claim a
• your household income is $37,950 or less
Even if you did not have actual child care
child care credit if they did not participate in
(complete lines 1 through 6 of Schedule
expenses, you may still be eligible if you
a pre-tax dependent care assistance program.
M1CD to determine household income);
meet one of the following conditions:
They may be eligible even if they did not
• you are single, head of household, quali-
fying widow(er) or married filing a joint
have actual child care expenses or if only one
• you are married and filing a joint return,
return (married persons filing separate
spouse had earned income.
your child was born in 2012, and you did
returns do not qualify); and
not participate in a pre-tax dependent
The credit for the newborn is based on
• the qualifying person lived with you for
care assistance program; or
$3,000 of qualified expenses (even if your
more than one-half of the year.
• you were an operator of a licensed family
actual expenses were less than $3,000) or the
The Minnesota credit is refundable, which
day care home caring for your own child
couple’s combined earned income, whichever
means you may benefit from the credit even
who had not reached the age of six years
is smaller.
if you have no state tax liability. This is dif-
at the end of the year.
If your child care expenses for the child born
ferent from the federal credit which can be
in 2012 are less than $3,000, complete the
used only to offset tax.
worksheet below to determine your credit.
Before you complete this schedule, you
must complete federal Form 2441—even if
you did not claim the federal credit or file a
federal return.
Worksheet for Child Born in 2012
Nonresidents and part-year residents may
If you completed federal Form 2441 to claim the federal credit, you must also complete a sepa-
rate federal Form 2441 to determine your Minnesota credit. Follow the instructions below to
be eligible for this credit, which is prorated
complete the Form 2441 you will use for Minnesota purposes:
by the percentage of earned income taxable
to Minnesota.
1 Skip line 3 and complete lines 4 and 5 of Form 2441 according to the instructions.
2 Determine the amount to enter on line 6
of
Form 2441 as follows:
Qualifying Person
a. For the child born in 2012, enter the smaller of:
A qualifying person is the same as for the
1) $3,000; or
federal credit for child and dependent
2) the total of line 4 and line 5 of Form 2441. . . . . . . . . . . . . . . . . . . . . . . 2a
care expenses. A qualifying person is your
b. If you had another child(ren) and you paid qualified
dependent child younger than age 13, your
child care expenses for them; enter the smallest of:
disabled spouse or a dependent who is
1) your actual qualified child care expenses paid for them;
disabled.
2) amount on line 4 of Form 2441; or
If you were divorced, legally separated or
3) amount on line 5 of Form 2441. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2b
lived apart from your spouse during the last
c. Enter the smaller of:
six months of 2012 and your child is not
1) the total of steps 2a and 2b above; or
your dependent, you may take the credit
2) $6,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2c
if your child meets the requirements of a
Enter the result from step 2c on line 6 of Form 2441.
qualifying person for the federal credit for
3 Complete the rest of Form 2441 and Minnesota Schedule M1CD to determine your Min-
child and dependent care expenses. In this
nesota credit.
case, the other parent cannot treat the child
4 Place an X in the appropriate box above line 1 of Schedule M1CD. Include the recomputed
as a qualifying person.
Form 2441 and this schedule with your return.
1 of 2
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial