The repayment provision starts at $2,000 per child at the bottom of the income range ($60,000 for married filing jointly). It gradually phases out until you get up to $120,000 at which point you will receive no repayment protection.
The phase-out range by filing status is:
- $60,000 - 120,000 if you are married and filing a joint return or if filing as a qualifying widow or widower;
- $50,000 - 100,000 if you are filing as head of household; and
- $40,000 - 80,000 if you are a single filer or you are married and filing a separate return.
TurboTax will automatically calculate the amount of repayment protection you are eligible for if your income falls within the phase-out range.
