What Is A Qualifying Child For Government Tax Purposes?
government Tax liability is determined by computing the total income and deducting allowable adjustments, deductions, exemptions and credits as provided in the government Tax Code.
Taxpayers are allowed to exempt part of their taxable income for each exemption they can legally claim. They receive one exemption for themselves, one for a spouse, and one for each qualifying child. A qualifying child must have their own SSN or ITIN number and meet the following requirements for government Tax purposes.
Qualifying Child – Relationship:
To the taxpayer, the child must be a son, daughter, stepchild, adopted child, foster child, brother, sister, half brother, half sister, stepbrother, stepsister, OR a descendant of one of them.
Qualifying Child – Age:
Age for government Tax purposes is determined by the age of the child on the last day of the tax year. To qualify, a child must be under 19 years old. Or, under 24 years old if a full time student. Or, any age if the child is permanently disabled.
Qualifying Child – Residence:
Child must live with the taxpayer for more that half of the year. There are exceptions to this rule, full time students living away from home, military service, missions, hospitalized for illness, a child that was born or died in that year, and children designated as dependents in divorce or separation papers.
Qualifying Child – Support:
The taxpayer must have provided more that half of their financial support for the year.
In addition, a qualifying child may open up the possibility for claiming the dependent care expenses credit, child tax credit, and the earned income credit, which can add up to a huge reduction in tax liability and the possibility of creating a huge refund.
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