Austin Indian Community - AustinIndian.com
| | |
 


 

Claiming the Credit for Other Dependents - March 2021

Money
Contributed by : Mukesh Makker
Add To My Favorite
Share With Your Friends



Taxpayers with dependents who don't qualify for the child tax credit may be able to claim the credit for other dependents. The maximum credit amount is $500. To take the credit, your dependent must meet certain conditions.

For example, the dependent you are claiming must be age 17 or older and have an individual taxpayer identification number. Other dependents also include dependent parents or other qualifying relatives supported by the taxpayer and dependents living with the taxpayer who aren't related to the taxpayer.

Here are some additional facts about the credit for other dependents:

1. The credit begins to phase out when the taxpayer's income is more than $200,000 ($400,000 for married couples filing a joint tax return).

2. Taxpayers can claim the credit for other dependents in addition to the child and dependent care credit and the earned income credit.

3. The dependent must be a U.S. citizen, national or resident alien.

4. A taxpayer can claim this credit if they claim the person as a dependent on the taxpayer's return.

5. The dependent cannot be used to claim the child tax credit or additional child tax credit.

For more information about this and other tax credits that could lower your taxes this year, please contact the office.


About Author
Mr. Maker is a certified Public Accountant and serving the South Asian community since 1993.

Website: https://taxprofessionalsnw.com/newsletter.php#8

 

Disclaimer: Please use this channel at your own discretion. These articles are contributed by our users. We are not responsible or liable for any problems related to the utilization of information of these articles.

 

View All Contributions

My Business:
Accounting and Tax Professionals, Inc
Bellevue

Post an Article
Notify Me of New Articles

Become A Featured Contributor
Add Your Blog | Add Recipe | Add Article

More Article by Mukesh Makker

Nikita Rawal gets a birthday surprise by her fans; watch her reaction
International Cricketing Legends to play for Friendship Cup UAE in Sharjah
IMPORTANT TAX CHANGES FOR INDIVIDUALS AND BUSINESSES - Jan 2020
View All Articles

Featured Contributors


Praveen Nair

Vasudha Sharma

Vivek Wadhwa
Vivek Wadhwa

Aayushi Manish

Dilip Saraf

Rima Arora
Rima Arora

Ananya Kiran

Tahmina Watson

Darshan Goswami
Darshan Goswami

Latest Articles

Sandip Soparrkar crowned King of Art4Peace in Beverly Hills, Hollywood by Staff
Amit Misra and Sonia Shukla's music video 'Tera Vaar' unveiled on Filmogramme by Staff
Actress Kavya Keeran helps out street kids while distributing books and Pens by Staff
Actress Payal Goga Kapoor will now be seen in the play 'Jai Shri Ram' (Ramayana) after Mumbai's play 'Social Media by Staff
Akshay Kumar to Play Late Mining Engineer Sardar Jaswant Singh Gill in His Next Film by Staff
View All Articles