Author Topic: Personal exemptions vs child tax credit in the new tax law  (Read 869 times)

PDXTabs

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Hello,

I am aware that under the new scheme there are no more personal exemptions and instead there is a beefed up child tax credit. However, you can only claim the child tax credit until your child turns 17. Does that mean that there is no tax benefit to having dependents who are 17 or older? I'm mostly just curious because I'm a big nerd.

Thanks in advance.

walkwalkwalk

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Re: Personal exemptions vs child tax credit in the new tax law
« Reply #1 on: April 14, 2019, 09:16:39 AM »
$500 Other Dependent Credit (ODC), given that you meet the requirements for it.

See Publication 972 below

https://www.irs.gov/publications/p972#en_US_2018_publink10002676