The Other Dependents Credit is a $500 non-refundable tax credit that can be claimed for each dependent who does not qualify for the $2,000 Child Tax Credit.
– To qualify as an “other dependent” the person must be related to the taxpayer, live with the taxpayer for over half the year, and the taxpayer must provide over half their support.
– Dependents who qualify for this $500 credit include:
– – Children aged 17 and older (too old for the Child Tax Credit)
– – Children who do not have a valid SSN
– – Relatives like parents or grandparents being supported
– – Non-child dependents with disabilities
– There is no income limit to claim the Other Dependents Credit.
– The maximum credit per dependent is $500. So for two “other dependents”, the maximum credit would be $1,000.
– It is non-refundable, so it can reduce your tax liability to zero but you won’t get any of the unused credit back as a refund.
– The credit must be claimed when filing your 2023 taxes in 2024. The dependents must be reported on your tax return.
