income tax rules regarding long term care expenses
This is determined as follows. The maximum amount of work-related dependent care expenses that can be applied towards the tax credit is $3,000. A percentage amount (20% to 35%), determined by your income, is multiplied against that to calculate the tax credit. Therefore, a family with an Adjusted Gross Income of $45,000 that had at least $3,000 in work-related care expenses would receive a tax credit of $600 ($3,000 x 20%).