Question

Choose the response that accurately completes the following sentence. A taxpayer claiming the Premium Tax Credit:A. May be claimed as a dependent on another person's return, as long as they are under 27.B. May have employer-sponsored health care coverage.C. Must have household income for their family size that is less than 150% of the federal poverty level.D. Will receive a refund if the amount of the credit is larger than the tax they owe.

Answer 1

Dependents can include children as well as other family members who depend on another person for financial support.

An individual who can prove they have a dependent could also be able to utilize this filing separately to be eligible for particular tax credits.

A descendent (for instance, a granddaughter) of any of them who is the taxpayers money son, daughter, younger child, foster child (established by an authorized placement agency), and a foster kid who is adopted.

When there are two custodial parents, it is especially important to remember that only one taxpayer could claim a particular dependant on there own income tax return. Dependency disputes between divorced and separated parents were settled in the custodial parent's favor.

In rare circumstances, prior court rulings or a written statement from the custodial parent could free the noncustodial parent from liability.

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