Tax Impact of Having a Child
With this course, you’ll examine a variety of tax issues involving children ranging in age from 0 to 27. Topics include tax credits available to taxpayers with dependent children; determining eligibility for claiming the dependency exemption; determining when kiddie tax impacts parents and children; and allocating health insurance from the Marketplace to nondependent children under age 27.
Upon completion of this course, you will be able to:
- Summarize the tax credits available to taxpayers with dependent children.
- Determine which taxpayer may claim the dependency exemption for a qualifying child.
- Summarize the requirements to claim tuition credits or an education deduction.
- Determine how inheritance or court settlements impact children’s reporting requirements.
- Analyze when kiddie tax applies and its reporting requirements.
- Analyze how to allocate health insurance on a family plan from the Marketplace to a nondependent child under 27.
This course includes an e-book and exam questions to help you earn CPE. CPE is issued after the exam is successfully completed.