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You need to furnish over one half of their support for your children to be considered dependents. That would seem unlikely under your scenario, since they are receiving more money collectively than you, and I assume the money they receive is used for their support.
So it is doubtful you can claim them as dependents.
You are not required to file tax returns if all of your income comes from SS/Disability. However, here are the qualifications for claiming someone as a dependent. For the support determination, here is a helpful worksheet. Your children cannot have provided over half of their own support to be considered your dependent. For other relatives, you have to have provided over half of their support for them to be qualified as your dependent. Without any earned income, you are not going to qualify for refundable credits in 2020, but the rules are different for next year's tax return - the one that will be filed in 2022.
Changes for 2021 tax returns
Starting in the tax year 2021, the Plan increases the Child Tax Credit from $2,000 to:
It also makes the credit fully refundable, meaning you’ll be eligible to get it even if you don’t owe taxes. Starting in July, payments for the Credit will be sent in advance so you won’t have to wait to file your 2021 taxes to receive that amount.
You need to furnish over one half of their support for your children to be considered dependents. That would seem unlikely under your scenario, since they are receiving more money collectively than you, and I assume the money they receive is used for their support.
So it is doubtful you can claim them as dependents.
That was my thought on it but since I haven't filed taxes in a while, I thought I should check and be sure. Thanks!!✌️
You are not required to file tax returns if all of your income comes from SS/Disability. However, here are the qualifications for claiming someone as a dependent. For the support determination, here is a helpful worksheet. Your children cannot have provided over half of their own support to be considered your dependent. For other relatives, you have to have provided over half of their support for them to be qualified as your dependent. Without any earned income, you are not going to qualify for refundable credits in 2020, but the rules are different for next year's tax return - the one that will be filed in 2022.
Changes for 2021 tax returns
Starting in the tax year 2021, the Plan increases the Child Tax Credit from $2,000 to:
It also makes the credit fully refundable, meaning you’ll be eligible to get it even if you don’t owe taxes. Starting in July, payments for the Credit will be sent in advance so you won’t have to wait to file your 2021 taxes to receive that amount.
I think this might have been the reason for the conflicting answers I was getting from family and friends. I appreciate your answers!!🐾
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