The amount of expenditures eligible for the child and dependent care credit is the least of three amounts the dependent's earned income for the year.
Eligible costs are those costs incurred and paid by the beneficiary in connection with the project, which is eligible for payment under the terms of the contract, and are detailed in Appendix “E” (eligible costs and ineligible expenses).
Spend refers to the total purchase price of goods or services. For example, if a company buys equipment for $30 million and his useful life is 6 years, it is a capital investment. Expenses are amounts recognized for the purpose of offsetting a company's revenues or profits.
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