Rules On Claiming Dependents On Taxes

The rules for claiming tax credit on dependents is very simple and straight forward, unlike any other tax procedure. A dependent is a child who is under the age of 19 years or under the age of 24 if he or she is a full time student. The IRS gives a tax credit of $1,000 for every child qualifies as a dependent.

However, this type of tax credit is given per child and not for every parent. Meaning, even if a couple is divorced, among them only one parent can file for this tax credit. Whoever has the custody of the child typically files for the tax credit. In case of joint custody, the parents have to decide individually in the court as to who will be filing for tax credits.

Some of the rules relating to filing for tax credit for dependants are as follows:

• The child should have a Social Security number.
• The child should be under the age of 19 years at the time of filing the tax credit, or under 24 and be pursuing full time studies.
• The child should be a citizen of the US.
• Only one parent or guardian can file for this type of tax credit.

There are very little rules as to who should claim returns on dependents. Even grandparents and foster parents can claim for tax credit if they have a dependent child, who has been living with them for more than one year. Also, every child is identified by a unique ITIN number and the guardians or parents should make sure that the child has this number in order to file for tax.

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