I have a full-time high student that turned 18 in July of 2021. I do not see any kind of credit being applied to our refund. Is this typical or am I missing the mark all together?
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If you are claiming them as a dependent on your 2021 tax return and they are age 18 or older, you will receive a Other Dependent credit of $500 on your federal tax return Form 1040 Line 19.
The Other Dependent credit is a nonrefundable credit.
Look on line 19 for the credit for other dependents. Your 18 year old is too old for the child tax credit ---but you get the $500 credit for other dependents.
Your eligible for the $500 "Other Dependent" Credit. The credit begins to phase out when the taxpayer's income is more than $200,000. This phaseout begins for married couples filing a joint tax return at $400,000.
It's found on line 19 of form 1040. It is a non refundable credit. So, if your tax on line 18 is less than $500, you won't get the full amount and it could even be 0.
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