- 5 -
that petitioner is entitled to dependency exemption deductions
for Brandon and James for 2001. We sustain respondent on this
issue.
2. Child Tax Credits
Section 24(a)(1) provides for a “credit against the tax * *
* for the taxable year with respect to each qualifying child of
the taxpayer”. The term “qualifying child” means any individual
if three tests are satisfied. Sec. 24(c)(1).
In the present case, the only relevant test is whether the
taxpayer is allowed a deduction under section 151 with respect to
such individual for the taxable year. Sec. 24(c)(1)(A). We have
concluded, however, that petitioner is not entitled to dependency
exemption deductions for Brandon and James for 2001.
Accordingly, they are not qualifying children, and petitioner is
not entitled to the child tax credits for 2001. We sustain
respondent’s determination on this issue.
3. Credit for Child and Dependent Care Expenses
Section 21(a)(1) provides for a credit against tax in the
case of “an individual who maintains a household which includes
as a member one or more qualifying individuals”. The term
“qualifying individual” means, among other things, a dependent of
the taxpayer who is under the age of 13 and with respect to whom
the taxpayer is entitled to a deduction under section 151(c).
Sec. 21(b)(1)(A).
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 Next
Last modified: May 25, 2011