What is It:
The Child Tax Credit is designed to provide tax relief to parents or individuals who covered more than 1/2 of the living expenses of qualified dependents.
Who Qualifies:
Any parent or guardian who provided significant care for a qualifying dependent.
Amount of Credit:
Up to $1,000 dollars for each qualifying dependent.
Criteria to Qualify:
The person being claimed must be a qualifying child as defined below:
- Must be your son, daughter, stepchild, foster child, sibling, step sibling, or a descendent of any one of them.
- Must be 16 or younger on the last day of the tax year.
- Must have provided for over 1/2 of all their living expenses.
- Must have lived in your house for more than 1/2 of the year.
- Must be claimed as your dependent.
- Must be a U.S. citizen, national, or resident alien.
