Child Tax Credit Question!?

Is there a set amount of money everyone gets for claming a child or is it based off of how much you make? The tax benefits for claiming a child are based on the income on the tax return. Who out of us would get more money if we claimed our child? Either of you could claim your child. You cannot split the exemption or any of the tax benefits between the two of you. You have to do your tax returns with and without your child, and figure which return gives you more money. If you and the father cannot agree, the parent with the higher income will get the tax benefits for claiming the child. Also could my boyfriend claim me or would we have to be married? If you have lived with your boyfriend all year, and your income is less than $3,650 for the year, and he supported you more than 50%, he most likely could claim you. Exceptions would be if you are claimable by one of your parents, or your living arrangement violates any local law.

Your BF cannot claim you as a dependent unless your earned income was less than $3600 for the year, AND you lived with him for the entire year. Either one of you could claim the child if you two agree. If you don't agree, there are tie-breaker rules. Generally you file a tax return to get a refund, but some people actually PAY taxes at tax time. I assume you are talking about the EITC, and the child tax credit, two different credits. The EITC is a refundable credit, meaning you can get it even without any tax liability while the other requires tax liability for you to benefit. The EITC operates on a bell curve, at one point going up, the more money you make, the more credit you receive, until you reach the top, and the more money you make, the less you receive. It's a credit for US citizens, the working poor. www.irs.gov EITC, tiebreaker rules

There is no set amount. Your choices: 1. Get married and file as a family. 2. Don't get married, but if you lived together, you *or* the child's dad can claim the child. It's usually best if the one with higher income claims the child. 3. Don't get married, but if you didn't live together, the custodial parent claims the child. The custodial parent can signoff on a form 8332 to let the non-custodial parent claim the exemption and child tax credit.