Cindy4
Employee Tax Expert

Deductions & credits

You may be eligible for the Other Dependent Credit worth $500.  This is a non-refundable credit, but it can reduce your taxes owed.  You gross income must be below $200,000 or $400,000 if filing jointly.

 

You may also be eligible to claim some education credits if they are full time students.  The American Opportunity Credit can be worth up to $2,500 per eligible sudent and the Lifetime Learning Credit can be worth up to $2,000 per tax return.  The IRS has a great interactive assistant  that can help you determine if your eligible.

Again, your income must be below the threshold of $90,000, or $180,000 if filing jointly.

 

Hope this helps!

Cindy

**Please say "Thanks" by clicking the thumbs up icon in a post
***Mark the post that answers your question by clicking on the "Mark as Best Answer"