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you know you have a big gambling income and your AGI will be over $150,000

 

 The Child Tax Credit begins to be reduced to $2,000 per child if your modified AGI in 2021 exceeds:

  • $150,000 if married and filing a joint return or if filing as a qualifying widow or widower;

 

The Child Tax Credit won’t begin to be reduced below $2,000 per child until your modified AGI in 2021 exceeds:

  • $400,000 if married and filing a joint return; or

Since you will be reduced, you might have to pay back some of the credit received in advance in 2020.