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Fri 1 Jun, 2012 02:05 pm
Dependence qualifies parent for an exemption, and actual expenses may qualify a credit in addition to the exemption. Do I have this right?
It's not about child earning income, parent paying the tax, and later claiming credit, is it?
@jillianz,
I don't know exactly what your question is about. What credit? Child care credit or child tax credit? You wrote expenses so I am thinking child care credit.
@2learn
That is my question. I don't understand. I think the exemption and Child Tax Credit are determined on line 6C. What is the Child Tax Credit? How does it relate to the exemption, child care expenses, other expenses, child earnings...???
@jillianz,
I don't know about line 6c. What I do know is not to answer tax questions on the internet. Define child? The i.r.s has many definitions for child.
My question is why you are asking about this now? Did you get an i.r.s notice, did you do your own tax return, if not, don't you trust the person who did your taxes.
@trying2learn,
This is a tax forum, and it is perfectly valid to ask and answer tax questions. It is probably best to discuss generally, as I have. No one is incurring any liability here.
I just want to understand what the child-tax-credit is and how it relates to the exemption and expenses. There is another line item 48 for "child and dependent care expenses".
@jillianz,
You know the answer to your question.