![]() ![]() Not provide more than half of their own financial support during the tax year You and any joint filers must also include your taxpayer identification numbers on your tax return.īe your daughter, son, stepchild, eligible foster child, brother, sister, stepbrother, stepsister, half-brother, half-sister, or their descendantīe under age 17 at the end of the tax year ![]() To qualify for the Child Tax Credit, you have to include the name and Social Security Number for each dependent you're claiming the tax credit for. You can claim these credits when filing your tax return. The Child Tax Credit isn't refundable, but you may be able to get a refund using the Additional Child Tax Credit (ACTC) if you end up owing less tax than the amount of the Child Tax Credit you qualify for. The Child Tax Credit can be limited if your adjusted gross income exceeds a specific amount based on your filing status. This is different from a tax deduction, which only lowers your taxable income by one dollar for each dollar of deduction. A tax credit is a powerful tool, because it reduces the amount of tax you owe by one dollar for each dollar of a tax credit. ![]() Thanks to the tax law changes in the Tax Cuts and Jobs Act of 2017, the Child Tax Credit (CTC) is now worth up to $2,000 per qualifying child. The Child Tax Credit (CTC) is now worth up to $2,000 per qualifying child. ![]()
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