Useful Links: IRS.gov Help For Hurricane Victims
News Essentials What's Hot News Releases IRS - The Basics IRS Guidance Media Contacts Facts & Figures Around The Nation e-News Subscriptions
The Newsroom Topics Multimedia Center Noticias en Español Radio PSAs Tax Scams/Consumer Alerts The Tax Gap Fact Sheets IRS Tax Tips Armed Forces Latest News
IRS Resources Compliance & Enforcement News Contact Your Local IRS Office Filing Your Taxes Forms & Instructions Frequently Asked Questions Taxpayer Advocate Service Where to File IRS Social Media
| Issue Number: Tax Tip 2019-138
Here's how the credit for other dependents can benefit taxpayers Taxpayers with dependents may qualify to claim a few different tax credits. One of these is the child tax credit. The child tax credit benefits people whose dependent meets a series of tests. If the dependent doesn't meet those qualifications, the taxpayer may be able to claim the credit for other dependents. Here's some info about the credit for other dependents. These details can help taxpayers find out if they can claim it when they file their taxes next year. - A taxpayer can't claim the credit for other dependents for a child who qualifies for the child tax credit or the additional child tax credit.
- A qualifying individual could be the taxpayer's older child, parent or cousin. It could even be someone who is not related to the taxpayer. To qualify, the unrelated person must have lived with the taxpayer for the entire tax year.
- The maximum amount of the credit is $500 per qualifying dependent.
- The dependent must be a U.S. citizen, a U.S. national, or a U.S. resident alien.
- Taxpayers who are eligible to claim this credit must list the name and Social Security number or individual taxpayer identification number for each dependent they claim on their tax return.
- The credit begins to phase out at $200,000 of modified adjusted gross income. This amount is $400,000 for married couples filing jointly.
- Taxpayers can use the worksheet on page 6 of Publication 972, Child Tax Credit, to determine if they can claim this credit.
More Information:
Whom May I Claim as a Dependent?
Publication 5307, Tax Reform Basics for Individuals and Families
Publication 501, Exemptions, Standard Deduction and Filing Information
Share this tip on social media -- #IRSTaxTip: Here's how the credit for other dependents can benefit taxpayers. https://go.usa.gov/xVvj5 Back to Top     
Thank you for subscribing to IRS Tax Tips, an IRS e-mail service. For more information on federal taxes please visit IRS.gov. This message was distributed automatically from the IRS Tax Tips mailing list. Please Do Not Reply To This Message. |
No comments:
Post a Comment