Changes for 2018
Under the Tax Cuts and Jobs Act (TCJA) tax reform bill, parents are now getting a little more help:
The maximum child tax credit has doubled to $2,000 per child under age 17.
There's a new credit for dependents age 17 and older, called the other dependent credit. This credit will get you up to $500 for each qualifying dependent.
The income limit has also increased, and you can qualify for both credits if your income is $200,000 or less -- $400,000 or less if married filing jointly.
Credits that didn't change
You might also be able to claim these credits for a dependent:
Earned Income Credit (EIC)
Dependent care credit
Even though you can no longer claim a dependent exemption on your federal return, you might be able to claim an exemption on your state return.
Above Source and credited to: HRB Digital LLC
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