Can We Deduct Our Preschool Payments?

My husband and I enrolled our twins in preschool this past year. Is this considered a tax-deductible child-care expense?

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Yes, the expenses you incur for preschool (up to first grade) qualify as a child-care expenses. After-school care offered by some elementary schools also qualifies.

--Ginita Wall, C.P.A., C.F.P., Retire Rich Expert

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