Tax Tip 2024-26: Parents: Check eligibility for the Credit for Other Dependents

IRS Tax Tips April 2, 2024
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 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 2024-26 Parents: Check eligibility for the Credit for Other Dependents The Credit for Other Dependents is a $500 non-refundable credit available to taxpayers with dependents who are not eligible for the Child Tax Credit. Taxpayers can claim this credit in addition to the Child and Dependent Care Credit and the Earned Income Credit. This information can help taxpayers determine their eligibility to claim this credit on their 2023 tax return. This credit can be claimed for dependents who: Are of any age, including those who are age 18 or older. Have Social Security numbers or Individual Taxpayer Identification Numbers. Are parents or other qualifying relatives supported by the taxpayer. Live with the taxpayer but aren't related to the taxpayer. Are U.S. citizens, nationals or resident aliens. The credit begins to phase out when the taxpayer's income is above $200,000. This phaseout begins at $400,000 for married couples filing a joint tax return. A taxpayer can claim this credit if: They claim the person as a dependent on the taxpayer's return. They cannot use the dependent to claim the Child Tax Credit or Additional Child Tax Credit. Taxpayers can use the Does My Child/Dependent Qualify for the Child Tax Credit or the Credit for Other Dependents tool on IRS.gov to help determine their eligibility. More information Topic No. 602 Child and Dependent Care Credit Earned Income Tax Credit   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.

 

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