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Written by a TurboTax Expert • Reviewed by a TurboTax CPAUpdated for Tax Year 2018 • October 21, 2024 1:40 PMOVERVIEWThe Affordable Care Act requires all Americans to have health insurance or pay a tax penalty. But, who qualifies for an Affordable Care Act exemption? F...
EITC:TheEarned Income Tax Credit(ETC) is a tax break for low to moderate-income individuals and families. For qualifying taxpayers with three or more qualifying children, the tax year 2025 maximum Earned Income Tax Credit amount is $8,046, an increase from $7,830 for the tax year 2024.21 ...
This tool will tell you if your dependent qualifies you for theChild Tax Credit, the Credit for Other Dependents, and theChild and Dependent Care Credit. Our DEPENDucator is a multi-year tool so you can use it forprevious years’ tax returnsas well! See all of therequirements for claiming...
The earned income tax credit (EIC or EITC) is for low- and moderate-income workers. In general, the less you earn, the larger the credit. Families with children often qualify for the largest credits. See qualifications and credit amounts for 2024 and 202
This EITC can get you between $632 to $7,830 for the 2024 tax year, depending on how many children you have, your marital status and how much you make. It’s something to explore if your adjusted gross income is less than $66,819. Adoption credit The adoption tax credit covers up...
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Who qualifies as a dependent? You could get $4,000 ($4,050 in 2017) off your taxable income for each dependent you claim. So who can you claim? Well, it could be an uncle, a grandchild, a parent, a nephew, or even a freeloading boyfriend. ...
The earned income tax credit (EIC or EITC) is for low- and moderate-income workers. See qualifications and credit amounts for 2024 and 2025. 2 By Sabrina Parys, Tina Orem Child and Dependent Care Credit: Definition, Who Qualifies If you’ve paid expenses for day care, preschool or anoth...
TurboTax/Tax Calculators & Tips/Tax Tips Guides & Videos/Tax Extensions/Video: A Guide to Tax Extensions: Deadlines, Forms, and Who Qualifies Written by a TurboTax Expert • Reviewed by a TurboTax CPAUpdated for Tax Year 2022 •October 28, 2024 9:07 AM ...