How can I claim the child tax exemption?

How much do I need to earn in 2024 to qualify for the full child tax credit amount in Illinois? I’m not concerned about gaining too much, but what is the minimum income required to receive the full refund for a dependent? I am a single college student with a 2-year-old child.

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Do you intend to submit an educational credit claim? As I said in your previous article, any educational credits you may be claiming also impact the income required to use the full child tax credit or supplementary child tax credit. The amount of 18,600 is needed to have a 400.00 tax liability, and if you do not file HOH and have no other credits or deductions, you will also be eligible for the entire 1600 extra child tax credit.

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I will not be submitting a credit claim for my education. Should I register as the head of the household? While attending school full-time, I had a part-time job. My child and I reside at my parents’ house.

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Claiming education credits is widespread. Why are you not going to make any claims?

No, at $18,000 in income. There is no federal benefit to filing a HOH.

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Are you enrolled in classes full-time as a college student? Do you not exceed 24 years of age? :melting_face: :melting_face: :melting_face:

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Yes, I am 22 years old and doing a full course load.

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Do you contribute more than 50% of your own resources? If not, you may be able to make a dependant claim.

In all honesty, I don’t think I supply myself more than 50% of what I need. But in order for me to start claiming my daughter, my parents will not be claiming me.

Whatever your parents decide to do, you are still legally required to check the “can be claimed as a dependent” box.

Would your parents think about accurately filing (claiming you and your daughter as dependents), getting those tax benefits, and then providing you with an amount equal to the state and federal Child Tax Credit? This would have the same effect and require you to file an accurate tax return since it appears that your family wants you to receive the benefit.

For optimal benefit utilization, both you and your grandchild should be claimed by your parents.