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Credit for Other Dependents

2021 – 10/01 Taxpayers who don’t qualify for the Child Tax Credit because their children are too old may have an alternative. The Credit for Other Dependents maxes out at $500 per dependent if certain conditions are met. To qualify, dependents must: Be age 17 or older; have individual taxpayer ID numbers; be a qualifying relative of the taxpayer or if unrelated, must live with the taxpayer. (A taxpayer’s dependent parent may also qualify.) The credit begins to phase out when income exceeds $200,000 or $400,000 for married couples who file joint tax returns. This credit can be claimed in addition to the Child and Dependent Care Credit and the Earned Income Credit. Here’s more: https://bit.ly/3m6pyvu

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