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for each qualifying dependent Child Tax Credit

Worth up to $600 for each qualifying child Foster and adoptive children under age 17 and who qualify as dependents are "qualifying children

Child and Dependent Care Credi

For expenses of work related child care Unreimbursed child care expenses for a foster or adoptive child qualify, but only if the child is claimed as a dependent Average child care credit in U.S. is $425

Education credit

Available for college tuition Also available for certain vocational training courses Student must be a dependent of the taxpayer Education credits are worth up to $1,500 per year per student

Foster and adoptive parents should also be aware that newly discovered tax benefits may be claimed retroactively for up to three years. Form 1040X can be filed to correct an error in a prior year return, and collect a refund if one is due. The deadline for filing an amended return that claims a refund for the 1998 tax year