Establishes a tax credit for adult child caregivers who provide substantial assistance to a qualified relative.
The bill amends the Internal Revenue Code to create a credit for adult child caregivers. Eligible individuals can claim a credit of up to $2,000 per qualified relative, subject to income limitations. A qualified relative must be a U.S. citizen, reside with the taxpayer for at least six months, and require assistance with daily living activities. The credit is reduced for taxpayers with adjusted gross incomes over $75,000 (or $150,000 for joint filers).
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