Taxpayers with dependents who don’t qualify for the child tax credit may be able to claim the credit for other dependents. The maximum amount of the credit is $500 for tax year 2020. To take the credit, your dependent must meet certain conditions.

For example, the dependent you are claiming must be age 17 or older and have an individual taxpayer identification number. Other dependents also include dependent parents or other qualifying relatives supported by the taxpayer and dependents living with the taxpayer who aren’t related to the taxpayer.

Here are some additional facts about the credit for other dependents:

1. The credit begins to phase out when the taxpayer’s income is more than $200,000 ($400,000 for married couples filing a joint tax return).

2. Taxpayers can claim the credit for other dependents in addition to the child and dependent care credit and the earned income credit.

3. The dependent must be a U.S. citizen, national or resident alien.

4. A taxpayer can claim this credit if they claim the person as a dependent on the taxpayer’s return.

5. The dependent cannot be used to claim the child tax credit or additional child tax credit.

Need assistance with bookkeeping, individual income tax, and/or cross-border tax preparation? Contact us today!