For 2020 and 2021, there are several credits you can claim for having a dependent as well as certain deductions that may also apply. A dependent is often your minor child or an elderly or sick relative who lived in your house throughout the year.
The Secrets Of Adding A New Dependent To Start Getting Advance Child Tax Credit Payments
- In order to claim the child for 2021 the child needs to live with you for at least half the year in 2021.
- If the child meets the criteria to be claimed as a dependent for 2021 then you can get the child tax credit when you file your 2021 tax return in 2022.
For more information, Visit our office today to speak with a Generational Wealth Specialist .