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New Member
posted Mar 29, 2024 4:17:51 AM

Why do I now need to pay in? My son has 0 income and I pay for his upkeep. I claimed him as a dependent. I thought this was suppose to help me not hurt me.

Examples are not to my situation. I don’t understand what is going on.

0 2 1633
2 Replies
Level 15
Mar 29, 2024 7:01:13 AM

We cannot see your tax return or your information.  You have provided no information about your son--so we do not know if he is a newborn or a college student, etc.  Please provide some details.  We do not know if you have W-2 income or self-employment income,  if you had tax withheld, etc. etc. etc.

Expert Alumni
Mar 29, 2024 7:11:01 AM

If your son is over age 16 he may be eligible for the Credit for Other Dependent.

The credit is $500 per qualifying dependent as long as the adjusted gross income (AGI) doesn’t exceed $200,000 ($400,000 if filing jointly). The credit goes down $50 for every $1,000 that the AGI exceeds the $200,000/$400,000 limit.

 

Form 1040 line 19 shows the amount of credit received.