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The other dependent care (ODC) credit is for older children and aging parents who are dependents that don’t qualify under the child tax credit. It has a maximum value of $500.
Do not confuse the credit for other dependents of $500 with the child and dependent care credit, which enables you to receive a tax credit of up to $8,000 for one dependent — or $16,000 for two ...
If you have qualifying children under the age of 18 and meet other criteria, you may also be eligible for the child tax credit or credit for other dependents. This includes people who have:
To claim any credits or tax benefits that aren’t listed above, you’ll need to use a different tax-filing option. For example, using another filing method could allow you to claim credits such as:
The personal exemption of $5,300 will return, but the child tax credit will also be reduced from $2,000 per qualifying child to $1,000. The $500 credit for other dependents will disappear.
If you cannot claim your dependents for the Child Tax Credit, they may still qualify for a non-refundable tax credit of up to $500, known as the Credit for Other Dependents.
Line 19: Here you will fill out any child tax credits you are entitled to, or credit for other dependents.
When you're a parent, every little bit of credit helps at tax time. If you have dependents and meet certain conditions set forth by the Internal Revenue Service (IRS), you might be eligible for ...
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