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  2. Taxes 2024: Can I Claim My Parents as Dependents and Is It ...

    www.aol.com/taxes-2024-claim-parents-dependents...

    With rising costs, it’s becoming more and more commonplace for adult children to care for their aging parents. As reported by A Place For Mom, as of 2023 the monthly cost for a semi-private room ...

  3. Tax tips for college students and their parents

    www.aol.com/news/tax-tips-college-students...

    A parent cannot claim both for the same dependent child (or a student can claim it) on a return for the same year, but if there are multiple dependents on the return they could be using either of ...

  4. Rules for Claiming a Dependent on Your Tax Return - AOL

    www.aol.com/finance/rules-claiming-dependent-tax...

    Having trouble deciding if your Uncle Jack, Grandma Betty or daughter Joan qualifies as a dependent? Here's a cheat sheet to quickly assess which of your family members you can claim on your tax ...

  5. Earned income tax credit - Wikipedia

    en.wikipedia.org/wiki/Earned_income_tax_credit

    Since they are claiming children, the Greys will also need to attach Schedule EIC to their tax return which will ask for each child, the child's name, social security number, year of birth, relationship to couple, and months lived with couple in the United States during 2012. If the Greys use 1040A, they will enter $4,557 on line 38a.

  6. Head of Household - Wikipedia

    en.wikipedia.org/wiki/Head_of_Household

    Head of Household is a filing status for individual United States taxpayers. It provides preferential tax rates and a larger standard deduction for single people caring for qualifying dependents. To use the Head of Household filing status, a taxpayer must: Be unmarried or considered unmarried at the end of the year.

  7. Child tax credit (United States) - Wikipedia

    en.wikipedia.org/wiki/Child_tax_credit_(United...

    v. t. e. The United States federal child tax credit (CTC) is a partially-refundable [a] tax credit for parents with dependent children. It provided $2,000 in tax relief per qualifying child, with up to $1,400 of that refundable (subject to a refundability threshold, phase-in and phase-out [b]). In 2021, following the passage of the American ...

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