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Child tax credit 2024 Form: What You Should Know
Tax Credit for the Child of a U.S. Military Veteran The Tax Code permits your qualifying child — your qualifying child(men) of a U.S. military veteran — to be eligible for a child tax credit when you itemize your regular income, as well as any income you may be able to claim under other provisions of the tax code. This allows a military veteran to claim a child tax credit. If you are entitled to a Veteran's Earned Income Credit (VEIN) or the Additional Child Tax Credit (ACT), you can use the following information to show whether your qualifying military veteran child has taxable earnings and whether this qualifies your qualifying military veteran child for a child tax credit. Your military veteran child is eligible for a tax credit only if you have both qualifying military veteran children. To show that your qualifying family can claim a child tax credit, you must use all the following information in the following sections. The tax information we show in parts I, II,III, IV, and V applies only to the family that qualifies. It should not be used for any other person that may have a qualifying claim or to estimate any tax liability that the taxpayer may have. For tax year 2024 and 2018: Military parent of dependent qualifying for Child Tax Credit: Do you have a qualifying military parent? If so, which of the following must you report as income for that person?: For the year 2024 (including the period beginning in 2024 and ending in 2018): Earned income Payroll contributions, wages, and salary Taxable interest and dividend income Taxable social security (federal and state) Any other income not shown in the chart For the period after 2018, see the chart for the individual for whom you are claiming a credit. Other income not shown in chart: Taxable disability pensions: If he or she is receiving or has a taxable disability pension, you must report the spouse's taxable income; the amount from the military retirement system and the amount from the VA; the child's taxable income; the amount of the pension or the value of the pension; the age of the child at the time of the military service; the military pay to which the civilian spouse is entitled; and the amount from the VA. However, this is not required for an earned income credit for a qualifying child of a U.S. military veteran if you are entitled to that child's earned income.
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