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The Credit for Other Dependents is a $500 tax break for some of your qualifying dependents who don't qualify for the Child Tax Credit. You can get this credit for children, relatives and people ...
Taxpayers include information such as their income, deductions and credits using the 1040 form. Your 1040 form will also include: ... or credit for other dependents. Line 20: If you have any ...
Alternative: The Credit for Other Dependents. ... To determine it yourself, use the Earned Income Credit Worksheet in the Form 1040 instruction booklet and the accompanying table.
Main article: Form 1040. As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ - see below for explanations of each) used for ...
Tax credit equals $0.34 for each dollar of earned income for income up to $10,540. For income between $10,540 and $19,330, the tax credit is a constant "plateau" at $3,584. For income between $19,330 and $41,765, the tax credit decreases by $0.1598 for each dollar earned over $19,330. For income over $41,765, the tax credit is zero.
For 2021, the credit was temporarily raised to $3,000 per child aged 6 to 17 and $3,600 per qualifying child aged 0 to 5 and was made fully refundable. Child and dependent care credit: a credit up to $6,000, phased out at incomes above $15,000. For 2021, the credit was raised up to $16,000, phased out at $125,000.
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