Dependents

Forum|Forum|2 years ago
March 13, 2024
1 reply
9 views

Last year my partner’s income was around $108,000 and mine was under $3,000. We have two kids and usually both claim one but his income is normally closer to $30,000 and mine closer to $15,000. Would it be more beneficial for our family if he claims both kids? Would we be able to claim the child tax credit?

DawnC

Level 15

Are you both the parents of both children? If so, you have options with the Child Tax Credits. You have to have $2500 in earned income to qualify for the Additional Child Tax Credit (the refundable portion) - you said under $3k, but not sure how much that is. Your partner is not going to qualify for any Earned Income Tax Credit.

If the child is not YOUR child, you won't qualify for the Child Tax Credit, only the $500 Other Dependent Credit.

Additional Child Tax Credit

Earned Income Credit

IRS Interactive Assistant - you can use this tool at the IRS to figure out your best option.

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LargeMargeAuthor

Level 2

We are both the parents of both kids.
My income was $2,504. Just barely!

Opus 17

Level 15

My guess is that your partner should claim both children this year. With only $2500 of earned income, you will only get a small earned income credit and a small child tax credit (you won't get the full $2000 child tax credit in your situation). The other parent will qualify for the full child tax credit, which will probably be larger than any child tax credit and EIC you could claim. But that's just a guess. You have to test it both ways to know for sure. Be careful not to file your test tax returns by accident. Once you know what you want to do, be very careful to only file according to the method you decide.