Form DR0347 Child Care Expenses Tax Credit - Colorado

What Is Form DR0347?

This is a legal form that was released by the Colorado Department of Revenue - a government authority operating within Colorado. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form DR0347?
A: Form DR0347 is a form used to claim the Child Care ExpensesTax Credit in Colorado.

Q: Who can use Form DR0347?
A: Colorado taxpayers who have incurred child care expenses for their dependent children can use Form DR0347.

Q: What is the purpose of the Child Care Expenses Tax Credit?
A: The purpose of the Child Care Expenses Tax Credit is to provide a tax credit for taxpayers who have incurred expenses for child care services.

Q: What expenses qualify for the Child Care Expenses Tax Credit?
A: Qualified expenses include expenses paid for child care services provided for the taxpayer's dependent children under the age of 12.

Q: How much is the Child Care Expenses Tax Credit?
A: The amount of the credit depends on the taxpayer's income and the total amount of qualified child care expenses. It can range from 20% to 80% of the eligible expenses.

Q: How do I claim the Child Care Expenses Tax Credit?
A: To claim the credit, fill out Form DR0347 and attach it to your Colorado state income tax return. Keep all supporting documentation for your records.

Q: Is there a deadline for claiming the Child Care Expenses Tax Credit?
A: Yes, the deadline for claiming the credit is the same as the deadline for filing your Colorado state income tax return, typically April 15th.

Q: Can I claim the Child Care Expenses Tax Credit if I use a licensed child care provider in another state?
A: No, the credit is only available for child care services provided within the state of Colorado.

Q: Are there any income limits for claiming the Child Care Expenses Tax Credit?
A: Yes, there are income limits. The credit is gradually phased out as the taxpayer's income exceeds certain thresholds.