Originally Posted by
DLax85
I took this to mean, someone other than one of your children --- i.e. grandma & grandpa leaving in your home with you.
So you think dependent children living at home over 16 years of age will qualify?
I'll have to reread that part.
For someone in the 25% marginal tax-bracket, the previous $4,050 exemption was really worth about $1,000 in reduced federal taxes.
No, I don't think children over 16 qualify. I was merely saying that it does provide a $500 per family member refundable credit, even for dependents other than qualifying children, which the current law doesn't allow. Under current law, the tax year they turn 17 disqualifies them. Under the new law, they will qualify for then $500 refundable family credit.