Hello,
My daughter was 23 at the end of 2021 and a full time student working on a Masters. Since I'm paying for her education and most of her support I am claiming her as a dependant. Turbo Tax is giving me the $500 "other dependant" tax credit. However, she earned $4500 last year (W2) from a part time job at our church, plus $111 in interest income. (She will have to file a return since social security and medicare weren't withheld, but we haven't yet filed).
From what I am reading she is over the $4300 limit in income so I am not elgible to receive the tax credit.
Turbo tax asks me nothing about her income. My question is how do I stop Turbo Tax from giving me the $500 tax credit or how to I remove the tax credit from my return. I don't know why the program does not ask me about her income if there is a $4300 limit.
Any help would be appreciated. Tim
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The 4,300 limit is only if they are 19 or older and NOT a full time student or over 23. She was still 23 and a full time student. She qualifies.
She can be your qualifying child dependent until the tax year when she turns 24 if she is a full-time student--and is not subject to the $4300 income limit. When she is 24 that will come into play. At age 23, you are still okay to claim her and get the $500 credit
WHO CAN I CLAIM AS A DEPENDENT?
You can claim a child, relative, friend, or fiancé (etc.) as a dependent on your 2021 taxes as long as they meet the following requirements:
Qualifying child
Qualifying relative
Thank you.
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