Children

Your child born on December 31 is assumed, for tax purposes, to have lived with you the entire year.

For each qualifying child, you can claim a dependent's exemption of $4,000.

For each qualifying child under the age of 17, you may be eligible for up to a $1,000 child tax credit or additional child tax credit.

If you and your spouse both work or are looking for work, or if one is in school or disabled, you may be eligible for the nonrefundable child and dependent care credit for children under age 13 or for a disabled child of any age.

You may be able to take a tax credit for qualifying expenses up to $13,190 paid to adopt an eligible child.

Children who are working cannot claim their personal exemption if they qualify to be claimed as a dependent on the parent’s return.