Me and my husband paid $18,000 in childcare last year for our 3 year old.
Can we deduct this on our taxes?

We also paid $3,600 in health insurance.

Are these items even "worth" itemizing?
Or should we just file the regular 1040A?

and then just plug in the necessary info when you do your taxes

>Me and my husband paid $18,000 in childcare last year for our
>3 year old.
>Can we deduct this on our taxes?
>

is very much "deductible" (well sort of). You get a credit, not a deduction, on your tax return for what you have paid for child care, with certain limits $3K for 1 qualifying child; $6K for 2 qualifying children) and nothing additional for more than two children.

Use this form here:

https://www.irs.gov/pub/irs-pdf/f2441.pdf

This form can be used whether you chose to itemize or not itemize.
Note: this is a non-refundable credit, meaning that it can be used to help reduce your tax liability to zero, but you will not get any of the surplus above zero, for this credit.

>We also paid $3,600 in health insurance.
>

Unless you (or husband) are self employed, you probably will not get much (if anything) out of deducting health insurance premiums.


>Are these items even "worth" itemizing?
>Or should we just file the regular 1040A?

For what you paid for dependent care, you don't have to itemize to get a credit.

As for the health insurance premiums that you paid, is it worth it? It depends, but probably not.

I hope that this helps.

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1500 per month for one child. Has to be the biggest raise in cost of living there is. I've been told it's because of liability/insurance. Those sue-happy parents will be the death of us all.

>1500 per month for one child. Has to be the biggest raise in
>cost of living there is. I've been told it's because of
>liability/insurance. Those sue-happy parents will be the
>death of us all.


No.
It's a cleanliness issue.
You can find daycare for $600 to $2,600 per month here.
But the entry point for a daycare to not smell like old food when you walk in and for them to have a decent curriculum is about $1,200 per month.
We had to pay the extra $300 because were on a time crunch and the location we're in commands a premium for just about everything (higher real estate in this part of the city)