Do not show your cousin as a foster child unless the courts specifically named you as the foster parent. Typically, foster parents need to go through classes and certifications at the state level. If the courts just made you the guardian, that doesn't necessarily qualify you as a foster parent. You will want to review your placement paperwork.
If you determine that you are NOT your cousin's foster parent, read on:
If all criteria are met, your cousin will be a qualifying relative, but not a qualifying child. This means that you will not receive the Child Tax Credit, but you may be eligible for the Credit for Other Dependents (ODC). The ODC is a non-refundable credit for up to $500. Non-refundable means that if other deductions or credits reduce your tax to zero, then you won't receive the ODC.
To determine if you received the ODC, you will want to check your forms. Here's how to look at your current year return forms:
- In the left-hand menu bar, click on Tax Tools, then click Tools.
- Under Other helpful links, click View Tax Summary.
- Your Tax Summary will be displayed. In the left-hand menu bar, you will see a new option: Preview My 1040. Click it, and this will allow you to see the forms. It is important to check your 1040 before you check your state return, as much of your entries on the 1040 will impact the state return.
- If you want to view your state entries, Click on Tax Home in the left-hand menu bar. In the center of your screen, scroll down until you see State Taxes. Click on it to review your state entries.
@Basilokasha
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