The tax credit that is being given is for each child, and only one parent is allowed to file for it. Whoever the child is living with, that parent is entitled to claim the tax credit. This qualifies the grandparents or foster parents and anyone else. If the child has been living with them for more than a year, then they are eligible for tax credit of $1,000 per child. If the couple is divorced only one parent, typically in this case a custodial parent, can file for a dependant. In order to qualify for a tax credit for a dependent child, the following conditions apply:
- The child has to be less than 19 years of age at the date of filing the return. Also, if the child is a full time student and under the age of 24, you can get the tax rebate.
- The child has to be a citizen of the US.
- In case the parents are not citizens but are working on a visa, then they can file with the appropriate details for the child.
- The child is assigned a unique ITIN number, and this number is very important to file tax credits. The child is identified with this unique number.
- The dependent earning for the year should be less than $3,650.
Also, the parents who are filing for their dependent children can take away the $1,000 while filing as it is a credit and not a rebate or deduction. The IRS will automatically make a note of this.
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