Do you have a child age 17 or older or another dependent? You can’t claim the child credit for such an individual but you may qualify for the credit for other dependents. The maximum credit is $500 for each dependent who meets certain conditions. The person can be a dependent age 17 or older (such as a child who’s a college student), a parent or other qualifying relative you support, or an unrelated dependent who lives with you. The credit begins to phase out when modified adjusted gross income exceeds $200,000 or, for married couples filing jointly, $400,000. We can help you determine your eligibility for the child tax credit or credit for other dependents when we prepare your return. Call or visit our website for more information! www.mjscpa.com/
