What is the At-Home Parent Tax Credit?
An at-home parent may claim a nonrefundable credit of $100 for each child who is less than 12 months old on the last day 2020 if the following qualifications are met.
- The at-home parent must provide full-time care in the
at-home parent's residence.
- The child must be claimed as a dependent by the at-home
- The sum of the at-home parent's total wages and business income must be $3,000 or less.
- Your total federal adjusted gross income must be $50,000 or less.
For purposes of this credit, an at-home parent includes:
- Biological mother or father
- Stepmother or stepfather
- Adoptive parents
- Foster parents
- Legal guardian
- Individuals in whose home the child is placed by a child-placing agency for the purpose of legal adoption.