If you have dependents who do not meet the age or other eligibility requirements for the Child Tax Credit (CTC), you may qualify for the Credit for Other Dependents. This credit may be claimed for dependents of any age, including children, parents and certain other relatives, along with some non-related dependents who live with you. Each dependent must be a U.S. citizen, national or permanent resident, and must have either a Social Security number (SSN) or Individual Taxpayer Identification Number (ITIN).
The maximum credit amount is $500 per qualifying dependent for taxpayers with an adjusted gross income (AGI) of $400,000 or below for joint filers, or $200,000 or below for all others. The credit phases out at higher income levels.
If you qualify, you may claim the Credit for Other Dependents in addition to the Child and Dependent Care Credit and Earned Income Tax Credit (EITC). Our tax professionals at RTW Xxact can help you determine which credits for dependents you are eligible for, and how to best combine credits to reduce your tax or increase your refund.