top of page
Search

Claiming Dependents

Writer's picture: Carrie HaddickCarrie Haddick

Unfortunately, you can’t claim your fur babies on your tax return – even though I fully agree that you should be able to because I have 2 myself and they are EXPENSIVE! However, for married couples filing joint who provide for their children, there is no question if the human children can be claimed as dependents on their federal income tax return. But what if you are divorced and share custody? Or what if you take care of your daughters' children because their parents are unable to for whatever reason? There are many different scenarios in which you may qualify to claim someone as a dependent that isn’t your child and either the Child Tax Credit or Other Dependent Credit.


What claiming a dependent comes down to is simple – if they lived with you more than half the year and you provided more than half their support, then you qualify to claim the individual as a dependent, per the IRS.


The IRS does not care that your divorce agreement says your ex-spouse claims the child in even years and you in odds (for agreements after 2008), they only care about who takes care of the child the most. If everything is split 50/50, then the person with the higher Adjusted Gross Income (AGI) qualifies to claim the child as a dependent. If you’re the person qualifying for the dependent but want to be nice and allow your ex to claim the child, you have to sign Form 8832, and they will have to file this signed form with their tax return.


So, what about grandparents claiming their grandchildren or anyone else caring for someone else’s child? I will take you back to what the IRS says about living with them and supporting them. This is the rule regardless of who is in question. The only things that change are an added rule that the dependents income has to be under $5,050 and the credit you can get for being able to claim the dependent.


If the dependent is under 17 and your qualifying child or relative (brother, grandchild, niece, etc.), then you are eligible for the $2,000 Child Tax Credit, if your AGI is not more than $200,000 for single filers or $400,000 for married filers. You can qualify for a partial Child Tax Credit if your AGI is over the limits.


If the dependent is over 17 and either your qualifying child, relative, or any other dependent, such as a parent or anyone else living with you that you support, then you are eligible for the $500 other dependent credit, if your AGI is not more than $200,000 for single filers or $400,000 for married filers. You can qualify for a partial Other Dependent Credit if your AGI is over the limits.


Dependents can also qualify you for other credits, like the Earned Income Credit, Child and Dependent Care Credit, or Education Credits – so make sure you are fully taking advantage of having and taking care of those children!

Comments


CONTACT ME

Send me an email or text to request a quote, consultation, or have a question! 

Thanks for submitting!

Tax Preparation & Accounting Services

Phone:

302-531-7952

Email:

  • Instagram
  • Facebook
  • Twitter

© 2023 By Carrie M Haddick CPA. Powered and secured by Wix

bottom of page