RUMOR: The 14th Amendment guarantees citizenship to children born to parents illegally in the U.S. Critics argue that automatic birthright citizenship could be changed by revoking the statute. Others say it would require a constitutional amendment because they believe the 14th Amendment requires birthright citizenship.
Answer: Each child can only be claimed as a dependent by one parent (except when married couples file taxes jointly). Typically, in the case of divorced, separated, or never married parents, it is the custodial parent who is legally able to claim a child as a dependent for tax purposes.
The parent who claims the child as a dependent is eligible to claim the child tax credit. This is true even if the parentâs filing status is married filing separately. Income phase-out. As your modified adjusted gross income (AGI) increases, the child tax credit begins to phase out. The credit is reduced $50 for every $1,000 â or portion of $1,000 â that your modified AGI is more than: