What is the Credit for Other Dependents ("Family Tax Credit")?

Created by Shubha Bisht, Modified on Wed, 24 Jan at 1:54 PM by Shubha Bisht

Per the IRS, taxpayers with dependents who don't qualify for the Child Tax Credit may be able to claim the Credit for Other Dependents. This is a non-refundable credit. It can reduce or, in some cases, eliminate a tax bill but the IRS cannot refund the taxpayer any portion of the credit that may be left over.

 

How do I claim the Credit for Other Dependents?

The Credit for Other Dependents may be claimed for:

  • Dependents of any age, including those who are age 18 or older.

  • Dependents who have Social Security numbers or individual taxpayer identification numbers.

  • Dependent parents or other qualifying relatives supported by the taxpayer.

  • Dependents living with the taxpayer who aren't related to the taxpayer.

The credit is effective until 2025. The credit begins to phase out when the taxpayer’s income is more than $200,000. For married couples filing a joint tax return, this phaseout begins at $400,000.

 

How much is the Credit for Other Dependents in 2023?

The maximum amount for the credit is $500 in 2023 for each qualifying dependent.

 

Additional Resources: 

This content is provided for informational purposes only and should not be construed as tax, legal, financial, accounting, or other advice. Rules and regulations vary by location and are subject to change, so please consult with an expert if you need advice specific to you.

 

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