Did you know that dependents who don’t meet criteria for the child tax credit may qualify for a $500 nonrefundable “other dependents” credit? You typically can claim it for dependents of any age, including college students, parents that you support financially and unrelated people who live with you. They must be U.S. citizens, nationals or resident aliens, and they must have a Social Security or tax ID number. Note that the credit starts to phase out for incomes above $200,000 ($400,000 for married couples filing jointly). An online tool can help you determine whether this or another dependent credit is available to you: https://bit.ly/3PU9wo1. Contact us with questions. © 2024
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