Wondering Why You Are Getting The Credit For Other Dependents Instead Of The Child Tax Credit?

The Credit for Other Dependents is a credit that began in 2018.

Child dependents that qualified for the Child Tax Credit in prior years may no longer meet the Child Tax Credit requirements, but may qualify for the Credit for Other Dependents.

 

 

The Powerful Reasons Why You Might Get The Credit For Other Dependents Instead Of The Child Tax Credit.

1. Your child is now 17 years or older.
2. Your child is no longer considered a qualifying child, but is considered a qualifying relative dependent.
3. Your child has an Individual Tax Identification Number (ITIN), but doesn’t have a Social Security number.

You can review more information about the requirements for claiming the Credit for Other Dependents by Visiting our office to talk to our Generational wealth specialist.