7 Out of 10 Americans Lost These Tax Breaks When They Filed Last Year

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3. Child care credit, and more

Millions of parents claim the child and dependent care credit every single year in order to help cover the costs of after-school day care while they are at work. However, some parents overlook claiming the tax credit for child care costs during the summer. Because this tax break also applies to summer day camp costs.

There’s a trick though: The camp must be a day-only getaway that supervises the child while mom and dad work. So, you can’t claim overnight camp costs. You should also take into consideration the dual form of the credit’s name: child and dependent.

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