Whether you live in an apartment or you have your own home, tax season can be a big deal for a lot of people. Most hope that they will be able to get some refunds back, or at least keep some of the costs as low as possible so it does not mess with their budget. One of the best tax credits that you are able to get is the child tax credit. But if you are looking to get this credit for your needs, you may wonder who is eligible for it in the first place.
There are a few requirements that you and your dependent will need to meet in order to get this credit successfully. These include:
# The child needs to be under the age of 17 by the end of the year.
# The child has to be related to you either as a son, daughter, adopted child, eligible foster child, stepchild, brother, sister, half sibling, stepsibling, or a descendent of one of these.
# The child needs to be either a US citizen, US national, or a US resident alien.
# The child has to be claimed as your dependent on the tax return. If you share custody of the kids, then the tax credit goes to the parent who claims the kids for the year. It is not possible for both parents to claim the same child and there could be penalties for trying and a ban from claiming the credit at all in the future.
# The child can’t file a joint return for that same tax year. They can file a return to claim a refund of their withheld income taxes or estimated taxes paid if that relates to them.
# The child must live with you for more than half the year.
# The child must have provided no more than half of their own financial support for that year. They can have a job, but you have to pay for most of their expenses.
Once your finances are in order and those taxes are done, it is time to look for a new apartment to call all your own. Our two bedroom apartments for rent near Anaheim packing district are calling your name and ready for you to move in. These apartments provide the comfort, great amenities, and the best locations that you have been dying for. And you will be amazed by the amount of space that you can find inside as well, much more than other similar apartments in the area. When you are ready to take a tour and learn more, contact a member of our team to get started.
