child tax credit?

Question

I have been using the same tax man forever and now my oldest turned 17 in December 2006 and he states that she is no longer eligilbe, is this true? I looked under the guidelines and she was a full time student and has never had a job, I beleive that she still qualifies, please advise.

Answer 1

Under the age of 17 in 2006

Full details here:(left hand side, page 2):

http://www.irs.gov/pub/irs-pdf/p972.pdf

Answer 2

Unfortunately, yes, this is true. A child must be under 17 as of the end of 2006 to get the Child Tax Credit for them for the year. Look at irs.gov, Publication 17, in the section (Chapter 34) on Child Tax Credit, under "Qualifying Child" which is on the first page of that chapter. Second item is "was under 17 at the end of 2006"

Answer 3

Your Tax advisor is correct. See the excerpt below from the IRS guidlines on the Child tax credit.

"Topic 606 - Child Tax Credits

You may be able to claim a child tax credit if you have a qualifying child.

A qualifying child is a child who:

Is a United States citizen, a United States resident, or a national of the United States,
Is under age 17 at the end of the calendar year in which your tax year begins,
Is your son, daughter, stepson, stepdaughter, legally adopted child, or a child placed with you for legal adoption, brother, sister, stepbrother, stepsister, foster child placed with you by an authorized placement agency or by a court order, or a descendant of any such person, and who
Shares with you the same principal place of abode for more than one-half of the tax year, or is treated as your qualifying child under the special rule for parents who are divorced, separated, or living apart. For more information, refer to Publication 501, Exemptions, Standard Deduction, and Filing Information."

I think you may be confusing your daughters eligibility to qualify as a dependent, not the child tax credit.

Answer 4

She would still qualify as a dependent for the dependent exemption, but would no longer qualify for the child tax credit.

Answer 5

Call the IRS. They have an 800 number in your area for questions. Tax preparers make alot of mistakes, go to the Main Source. Good Luck!