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Old 05-01-2018, 09:01 AM
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child tax credit 2018

Hi, I wondered if someone on the forum could help me understand the 2018 tax credit for dependents.

I make less than $200k, 4 children ages 22, 20, 19, 17.

what are the implications for each (all students for 2018) 2 college, 2 high school. I've read enough to have my head spin...

What is each dependent's tax credit worth?

thank you in advance for taking the time to answer.

--Brian



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Old 05-02-2018, 12:44 PM
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Join Date: Oct 2010
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you are not eligible for a child tax credit of up to $1k per child for each qualifying child under the age of 17 that you claim as a dependent since your modified AGI exceeds$110kif your filing status is married filing jointly or $75k if you?re filing as the head of your household, single or as a qualifying widow(er) The Child and Dependent Care Credit is designed to encourage taxpayers to pay childcare expenses so that they can remain gainfully employed. The Child and Dependent Care Credit is limited to a range of 20% to 35% of $3k for one qualifying child or dependent under age 13 or $6k for two or more qualifying persons, depending on the taxpayer's Adjusted Gross Income.To claim the child and dependent care credit, You and your spouse usually file as married filing jointly. For those who are married, the care also must have been necessary so a spouse could work or look for work.
? Also, you can Claim your children as your Dependents aslongas they must be under age 19 (24 if a full-time student) at the end of the tax year and they The children must not have provided more than half of their own financial support during the year.



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