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]

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

[AmyW · Accepted solution]

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. 

https://turbotax.intuit.com/tax-tools/tax-tips/Family/Tax-Exemptions-and-Deductions-for-Families/INF...

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

https://apps.irs.gov/app/vita/content/globalmedia/teacher/worksheet_for_determining_support_4012.pdf

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.