2018 tax year family tax credit

[RWG1950]

Maybe someone out there can straighten me out on this.

Personal exemptions are now history.

As I understand it, the new and improved child tax credit applies only to "qualifying" children under age 17, but a new $500 "family" credit now can be used for children and other dependents that do not qualify as your child for this tax purpose.

Does this mean that parents will be able to use this new $500 "family" credit for children ages 17 through 23 even if they also claim the AOC on the child ?

Does this $500 "family" credit apply to each qualifying person ? ( or will there be a dollar cap per return for this "family" credit ? )

Appreciate your comments.

[Rapid Robert]

Does this mean that parents will be able to use this new $500 "family" credit for children ages 17 through 23 even if they also claim the AOC on the child ?

Does this $500 "family" credit apply to each qualifying person ?

To answer your two questions:

Yes (assuming the children ages 17 through 23 are qualifying children for dependency purposes), and Yes (assuming in your second question, by "qualifying person", what you really meant was "dependent of the taxpayer (as defined in section 152)" who is not also a "qualifying child of the taxpayer (as defined in section 152(c)) who has not attained age 17".

And, if by lack of providing an SSN, the under-17 qualifying child doesn't generate a regular child tax credit, the $500 credit is available instead.