You must also attach a completed Schedule EIC to your tax return. Be sure, however, that you and the child's parents are on the same page. I don't know how old either your daughter or granddaughter are. Claiming your children as dependents can also pave the way for eligibility for a slew of tax credits. It's worth noting that beginning in tax year 2018, student-loan debt forgiveness due to death or permanent and total disability will be excludable from income.
There's no age limit if your child is disabled. The eligible refundable portion also will go up. Tom Merton Getty Images. Skip to main content. She is the author of several novels including the bestselling "Comes the Rain" and "With Every Breath.
About the Author Based in the Kansas City area, Mike specializes in personal finance and business topics. The child can be the qualifying child dependent of either the parent or grandparent - you can decide which claims the child. The child must not have provided more than half of his or her own support for the year. Support includes amount spent to provide food, loding, clothing, education, medical and dental care, recreation, transportation andsimilar necessities.
Sarah O'Brien sarahtgobrien. However, if the grandchild generally lives with his parents, you can't claim the grandchild. The term "dependent" for tax purposes is defined as: We do that with the style and format of our responses.
Was this answer helpful? He must be younger than 19, unless he's a full-time college student. This provides a tax break to reduce the cost of child care while you're working or looking for work.
The following chart, taken from Publication 501, provides an overview of all the tests.