My 25 year old lived with us for 10 months after graduating college in 2020 and finally landed employment in November 2021 but TurboTax is showing we don't get the $500 "other dependent credit" this year. Most likely because he has made more than the $4150 limit in the 2 months he had a job but that didn't help us any for the 10 months he was living with us unemployed. Are there exceptions for instances like this?
You'll need to sign in or create an account to connect with an expert.
No, as you mentioned that since his income was above the limit, you would not be able to take the tax credit. The income limit is $4,300 for 2021.
Q. Are there exceptions for instances like this?
A. No. There are no partial year dependents. He is either your dependent for the whole year or not a all. The fact that his $4300+ income, all came in the last 2 months still prevents you from claiming him as a dependent and getting the $500 other dependent credit.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
alvinaperez1954
New Member
actuning7
Returning Member
TTfailedme
New Member
in Education
trapezewdc
Level 4
Av74O0OhzB
Returning Member