When do you loose the benefit for claiming your college kids as dependents when doing your taxes? I read online that it was if you have a combined income above $140K. I then read somewhere else that you loose it if you have a combined income above $400K.
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When do you loose the benefit for claiming your college kids as dependents when doing your taxes? I read online that it was if you have a combined income above $140K. I then read somewhere else that you loose it if you have a combined income above $400K. -
From the irs website:
You qualify for the full amount of the 2023 Child Tax Credit for each qualifying child if you meet all eligibility factors and your annual income is not more than $200,000 ($400,000 if filing a joint return).
Child Tax Credit | Internal Revenue Service (irs.gov) -
I wonder what the eligibility factors are. I know several people that don't make too much that didn't get the credit last year.
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