Claiming a dependent can help reduce your taxable income and make you eligible for various tax credits. The IRS recognizes two types of dependents: qualifying children and qualifying relatives.

For the 2024 tax year, the credit is worth 20% to 35% of up to $3,000 (for one qualifying dependent) or $6,000 (for two or more qualifying dependents). Earned income credit ...

Working parents often face extra expenses, such as summer day camp for their children. Many people don't know they might ...

Discover how child support payments impact your taxes. Find out if child support is taxable and learn about claiming your ...

How you can claim tax dependents on your return. To claim tax dependents, you'll need to start by listing your dependents' names on the first page of Form 1040 for your individual income tax return.

If your boyfriend, grandma or unemployed brother is crashing on your pull-out couch, you could snag a tax break by claiming them as a dependent on your federal income tax return.

For example, employer-sponsored dependent care flexible spending accounts allow you to divert pre-tax money from your salary to an account for qualified care expenses. For the 2025 tax year, you ...

Tax tips for parents or guardians of children 01:55. You can also claim a relative as a dependent, as long as they meet most of the other dependency requirements, such as being a U.S. citizen or ...

Claiming a dependent can help reduce your taxable income and make you eligible for various tax credits. The IRS recognizes two types of dependents: qualifying children and qualifying relatives.