Which of the following statements is true about the Child and Dependent Care Credit?

The Child and Dependent Care Credit allows taxpayers to claim credit for a portion of the expenses incurred for the care of qualifying individuals while they work or look for work. One of the key points regarding this credit is that it can apply to expenses related to a disabled spouse if that spouse regularly resided with the taxpayer for more than half of the year and is physically or mentally incapable of self-care. This makes the statement regarding expenses related to a disabled spouse accurate.

In contrast, the other options present scenarios that do not align with the rules governing the Child and Dependent Care Credit. For instance, the credit is not refundable for all taxpayers; it is a non-refundable credit, meaning it can reduce tax liability to zero but will not result in a refund beyond any taxes owed. While self-employed individuals may also claim this credit, it is not limited to them; it is available to all qualifying taxpayers, which makes the assertion that it applies only to self-employed individuals inaccurate. Lastly, the limit for claiming qualifying expenses is up to $3,000 for one qualifying individual or $6,000 for two or more qualifying individuals, rather than a flat limit of $10,000. This further substantiates the accuracy of the statement regarding expenses related to a