How does President Trump’s new tax bill affect the Child Tax Credit (CTC) for dependents 17 and older?
The Republican tax bill, the Tax Cuts and Jobs Act, lets parents take a $500 credit for dependents who are 17 or older. This also applies to other non-child dependents, such as elderly family members or adult children with disabilities. The credit is non-refundable.
Remember: These changes go into effect beginning with the 2018 tax year.