Dependent Income, Need to know if my 10 year old child makes $30,000 in the stock market can I claim her as my dependent. All of the money went right back into the stock market.

Dave1040 · ‎June 4, 2019

Also, can I still take the child tax credit on this child?

AmyW · ‎June 4, 2019

Yes, you may be able to claim your daughter as a qualifying child if:

She is under 19, or a full-time student and under 24 years of age. There is no age limit if he is permanently and totally disabled.
She lives with you for more than half of the year (Temporary absences, like going to college does not count)
You provided more than half of her support for the tax year
You are the only person claiming her

See the article below for the rules about claiming a qualifying child.

Here is a worksheet that will help you determine if you provide more than half of your son's support:

However, you will need to file a tax return for your daughter this year with the box checked Someone can claim me on their tax return.

AmyW · ‎June 4, 2019

Yes, you may be able to claim your daughter as a qualifying child if:

She is under 19, or a full-time student and under 24 years of age. There is no age limit if he is permanently and totally disabled.
She lives with you for more than half of the year (Temporary absences, like going to college does not count)
You provided more than half of her support for the tax year
You are the only person claiming her

See the article below for the rules about claiming a qualifying child.

Here is a worksheet that will help you determine if you provide more than half of your son's support:

However, you will need to file a tax return for your daughter this year with the box checked Someone can claim me on their tax return.

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